Surprise and Wonder as Stock Support Holds May 5
Fri, May 5, 3:11 PM ET, by Corey Rosenbloom
Were you surprised stocks held their support line and rallied higher?
Here’s today’s updated Emini (@ES) trading levels for your trades:
We shouldn’t be surprised, given how many times price (sellers) tested the 2,380 level and buyers supported it.
There were even two Bear Traps (failed breakdowns) that were clues to hidden bullish strength.
Here we are, closing the week with the market running once again toward the 2,390 level near all-time highs.
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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