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Mid-Day Minute with Mike Paulenoff
http://www.tigersharktrading.com/articles/579/1/-Mid-Day-Minute-with-Mike-Paulenoff/Page1.html
By Mike Paulenoff
Published on 06/7/2005
 
The Q's broke above key micro resistance earlier today and climbed to a recovery rally high.
Mid-Day Minute with Mike Paulenoff

The Q's broke above key micro resistance earlier today at 38.25 and climbed to a recovery rally high of 38.47.  Since the intraday high was established, the price structure appears to be consolidating in a micro bull flag formation that should pop to one more recovery high in the 38.60/65 area prior to a resumption of the larger corrective process that began after last Friday's high at 38.83.  Should such a scenario unfold, then from 38.60/65 the Qs should press into the 37.60 target zone.

MJP 06/07/05 1:00 PM 38.36

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.