Now what? Looks to me like the S&P 500 SPDRs (SPY) has completed a minor pullback from 141 to 138.20, and should turn up again for another attempt to hurdle resistance at 140. Of course, expiration within the next 30 minutes may have an impact on the next immediate directional move, but net of the influence of the expiration, my work points to the upside.



Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.