Still Range Trading at the Highs January 13 Update
Fri, Jan 13, 1:21 PM ET, by Corey Rosenbloom
In the battle for market dominance we still DON’T have a winner! Bulls? Bears? Nada.
Instead we remain trapped at the highs in a volatile sideways trading range.
Here’s today’s updated Emini (@ES) trading levels for your trades:
Supply and demand move price; it’s nothing magical.
Right now we’re at a critical reference area – 2,270 in the @ES which is just under the all-time high.
Buyers want to extend the market higher with a breakout, and they’ve countered each of the three recent sell-offs of the bears.
With neither side victorious, we’re seeing volatility increase and our Fibonacci Levels serving as targets and short-term inflection (reversal) points.
If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Corey's book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”
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SDI Glossary: "Finance" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "Trend" Definition
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