Mid-Day Minute with Mike Paulenoff

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By Mike Paulenoff | Published 04/20/2005 | Futures , Stocks | Unrated

Mid-Day Minute with Mike Paulenoff

For today's Mid-Day Minute, Mike writes: INTC, CPI, API...alphabet soup...roiling the index so far this morning. Right now, we have a micro lid on the E-mini June S&P at 1158-1160, and a micro floor at 1150-1148, and alot of noise in between. This is why I am not too interested in "picking" a direction at this particular time. A break below 1148-1147.75, however, will interest me, because my work will point to downside acceleration to 1140. For the time being, let's just watch and wait for a higher-probability outcome than we are presented with a this moment.

MJP 04/20/05 11:25 AM ET (1152.25)

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.

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