Daily Minute with Mike Paulenoff for February 16

Popular Articles

By Mike Paulenoff | Published 02/16/2006 | Futures | Unrated

Daily Minute with Mike Paulenoff for February 16

I was hoping for a pullback to get long into a bit of weakness, but this upmove continues to exhibit inordinate strength up to this point, as it makes new highs at 1286.75. At this juncture, the next target is a test of the January 30 recovery high at 1291.50. Only a reversal and decline that breaks 1281.00 will begin to compromise the upmove.

Mike Paulenoff is a 25-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his E-mini S&P and QQQQ technical analysis and trading alerts. For more of Mike Paulenoff, sign up for a FREE 30-Day Trial to his E-Mini/Index Futures diary, or try his QQQ Trading Diary.

It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.