Tuesday May 12th, 2020by Mike Paulenoff ES (E-mini S&P 500 futures) and SPXL-- In my opening commentary, this is what we discussed: For the time being, as long as strength is capped beneath 2937.00, the integrity of the Coil will remain intact, and as such, ES should pullback back again into the 2910-2900 support zone, where I will look to reverse my position from long $SPXU to long $SPXL ... ES has followed the script, retreating from 2936/39 to 2912 so far, which is close enough to the 2910-2900 pivot zone (see my attached chart), ahead of what I am expecting to be another upturn into a powerful advance that propels ES out of the Coil, towards a retest of the 4/30 recovery high at 2965... Last is 2919.75 off of a 2912.50 pullback low... Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking.Sign up for a Free 15-day Trial! * I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com * Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page .