Bouncing Between the New Range Emini Update Feb 2

Feb 2, 2017: 12:20 PM CST

The range is back! And we didn’t miss it at all.

We’re seeing price bounce between our short-term Fibonacci Levels as noted.

Here’s today’s updated Emini (@ES) trading levels for your trades:

Be sure to revisit last week’s updates regarding Market Internal Divergences and an expected pullback.

The logical daily chart target for the S&P 500 was the rising 20 day EMA near 2,270 which I updated for you.

The @ES continues to have the following Fibonacci Grid active, placing 2,263 again as the 50% retracement from which price reversed the prior two sessions.

Our new short-term range occurs between 2,271 and 2,281 as highlighted. It’s small but it’s effective for now.

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!

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Corey Rosenbloom, CMT

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