June 28 Bounceback Emini Fibonacci Target Update

Jun 28, 2016: 10:40 AM CST

The Daily Chart traded all the way down to our 38.2% Fibonacci Target and bounced higher this morning.

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

Here’s a reference guide of how to use and trade from these morning updates.

Take a moment to view yesterday’s public “Expanded Fibonacci Grid” to see exactly where we expected – and ultimately saw – a rally take place which set the stage for today’s session.

Also, the cash S&P 500 bounced off the 2,000 “Round Number” target level on the index.

At this point, we’re re-drawing a “collapse” Fibonacci Grid that takes into account the prior high to yesterday’s low.

Our focal point right now is 2,020 along with 2,012 as a Fibonacci Pivot.

We’re currently trading down from this level but if buyers can muster strength and push price above 2,012 and then above 2,012, then we’ll look for an extended play toward 2,032.

Otherwise, a retest of the low is in play toward 1,981 again if sellers push us back under 2,000.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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One Response to “June 28 Bounceback Emini Fibonacci Target Update”

  1. Bouncing Market Update and Stock Scan fro June 28 | Afraid to Trade.com Blog Says:

    […] How high could price bounce?  Note the highlight above and check out this morning’s update post. […]