Bullish Surge Forever June 1 Update
Thu, Jun 1, 1:31 PM ET, by Corey Rosenbloom
How dare we assume that this bull market will stop. How very dare we.
We were correct that a pullback was likely toward the 2,400 level, but now that it’s complete, it’s back on to new highs today and forever and ever.
Here’s your short-term Emini Fibonacci Retracement Grid and Target Levels:
The non-stop bull market hit a snag this morning, and we were planning for this as seen in last Friday’s “Planning a Pullback in the Emini.”
Price did retrace – for two sessions only – toward our 2,400/2,404 prior high and Fibonacci Target.
As noted last night, the positive divergences at our support target set the stage for today’s bullish surge.
Surge it did – the upside opening gap was the catalyst for another T3 Trend Day and buyers are delivering the goods (as short-sellers are being squeezed painfully out of bearish positions).
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Corey Rosenbloom, CMT
Afraid to Trade.com
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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: "Finance" Definition
SDI Glossary: "Retracement" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "Trend" Definition
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