Today's marginal new high in the E-mini June S&P for the rally that began one week ago has the prerequisites of a significant near-term technical peak.
The 4-day rally has pushed the E-mini S&P above the March-May resistance line at 1167, and has followed through to test the lower edge of heavy resistance starting.
With the Qs treading water in positive territory, Mike Paulenoff thinks we have initiated of the final phase of the counter-trend recovery process that began in mid-April.
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