Finally Pulling Back from the Highs Emini Update Nov 28

Nov 28, 2016: 12:16 PM CST

Wait, the market can actually go DOWN? I had no idea!

If you started your trading career in November 2016, I can see how you could think stock prices can’t go down.

Hint – they can and do!  And you can make money when they do by short-selling the market (or buying inverse ETFs)!

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

Our “Holiday Creep” continued not just last week but for almost all of November.

Nevertheless, the market could be in for a reckoning as negative divergences in a grossly extended market result in a steeper sell-swing into December.

Update your levels accordingly – they’re easy to remember:  2,180, 2,160, 2,145, and 2,130 as a shortcut.

What happens in the rare but possible event the market continues to creep to new highs? We update our Fib Grid.

Want these levels and additional strategy planning in advance each evening?

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Corey Rosenbloom, CMT

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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).”

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