Monday morning may be the beginning of a “bull trap” should price remain under the breakout high. Will it?
Here’s today’s updated Emini (@ES) trading levels for your trades:
Our bullish V-Spike Reversal off 2,228 set the stage for a continuation of the uptrend and bull market.
After two pullbacks (retracements), price surged to new all-time highs Friday.
However, Friday afternoon into Monday morning gave us a pullback under 2,270 which is a make-or-break point.
Should price remain beneath 2,270, expect a swing back toward 2,255 (failure to break out).
Any move back above 2,270 could trigger a powerful short-squeezed breakout but we’re not quite there yet.
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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