The market is surging this morning, extending the bull market with a short-squeezed bullish breakout.
Here’s today’s updated Emini (@ES) trading levels for your trades:
As usual, there are no Fibonacci Pullback Levels to consider when price is surging to new highs.
A Fibonacci Grid requires a swing high – which isn’t yet in place – and a prior low (or prior lows).
As such, we’ll just keep our “Alternate Short-Squeezed Breakout” thesis going while buyers continue to dominate and decimate the sellers.
Price Price Price!
To sum, here’s a direct quote from our prior Member Strategy Plan (join us!):
This market (buyers) refuse to give-back ground. We continue to be on guard for a pullback and just saw two days of bearish initial retracement activity.
It’s possible that’s all we see, and thus we’ll get ready to trade long/bullishly above 2,365 toward 2,400.
If it feels funny to read “2,400″ keep in mind that’s it’s just as weird for me to write it but then again, 2,300 once seemed out of reach.
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!
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Follow Corey on Twitter: http://twitter.com/afraidtotrade