The Emini Surge Back to the Highs January 4
Wed, Jan 4, 12:21 PM ET, by Corey Rosenbloom
Stocks surged again, continuing the 2017 rally.
We saw another bounce off our Fibonacci Grid into the “Open Air” pocket beneath the all-time high.
Here’s today’s updated Emini (@ES) trading levels for your trades:
We had an end-of-year bullish reversal on positive divergences off our 2,227 level as price blasted higher to 2,260.
A huge bullish opening gap yesterday set the stage for a pullback to our 2,238 reversal pivot.
The end-of-day rally Tuesday continued with the breakout above 2,251 this morning and the extended bullish swing through the “Open Air” pocket from the late-2016 trading range.
Focus on these movements between 2,251 and the 2,271 level which is the all-time Emini high – a logical target.
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).”
SDI Glossary: "price" Definition
SDI Glossary: "Finance" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "Trend" Definition
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