For today's Mid-Day Minute, Mike writes:  For the past 3 hours, the E-mini June S&P has been consolidating between 1166 and 1161 in what resembles a bull flag pattern atop the upmove off of Friday's pivot low at 1143.75. Based on the bull flag analysis, the e-SPM should thrust to the upside into new high ground in the vicinity of 1168-1171 to complete the current upleg, and also complete the enter counter-trend rally phase off of the 1135.75 low from one week ago. At this juncture, only a break below 1160 will compromise the still constructive near-term chart pattern.

MJP 04/25/05 2:15 PM ET (1163.25)

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.