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Mike Paulenoff

Bottoming Levels To Watch For ES, TSLA

Thu Apr 3rd 2025
Good Thursday morning, MPTraders! April 3, 2025-- Pre-Market Update: The fallout from the forthcoming imposition of Trump's Tariff Plan has everyone EITHER confused OR whining (more about this later this AM). As expected, the conversation this morning around the globe will be about the negative impact of the tariffs on markets. I will share my thoughts after we examine some snapshots of the carnage...First up, my 5 Minute ES Chart, which is circling 5507 now, and is 35 points below where it was trading when Secretary Lutnick started his CNBC interview, suggesting that Mr.

Market Leaves Us Hanging Once Again

Wed Apr 2nd 2025
Today we saw the market open lower only to move up into our first key upside pivot level during the morning session. Unfortunately we failed to see a sustained break of that level before the market turned back lower after the lunch hour. This is leaving the door open to several possibilities none of which are what I would consider terribly reliable patterns. This of course, is the nature of corrective wave patterns, which is what we have been dealing with for the past several months.

Stick Save? - Market Analysis for Apr 3rd, 2025

Thu Apr 3rd 2025
It should be no surprise that we have been expecting this wave action to resolve to the downside and point us to the 5000-5100SPX region based upon our updates over this past week.  Once the market made it clear on Monday that the green count had become much less likely, I began to outline the patterns as pointing down.  The only question was whether we would be heading there directly or if we would see one more rally for a more expanded [b] wave.

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