Cinco de Mayo Emini Fibonacci Planning Grid Update

May 5, 2016: 10:48 AM CST

Happy Cinco de Mayo!

We’re seeing an expected bounce (rally) on divergences up away from the 2,040 @ES level.

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

From tonight’s member report, we were STRONGLY BULLISH for a BOUNCE (plan) going into today’s session.

So far, that analysis was correct as price is pushing higher – off positive divergences – at the 2,040 @ES Level.

We’re re-entered our Fibonacci Grid, taking flight back above the 2,048 pivot into the range (highlights).

The upside potential target (short-term) is again the 2,060 Fibonacci Level.

Above that level, price can extend toward the Midpoint at 2,070.

For today’s session, focus on 2,048 and the movement “away from” this key pivot.

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Corey Rosenbloom, CMT

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