Logical Pullback Emini Update May 31 with Targets

May 31, 2016: 11:13 AM CST

Last week’s bullish pre-holiday action is now giving way to a logical pullback against resistance.

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

The @ES (Emini S&P 500 futures) rallied all the way to the 2,100 upside target last week.

We’re now seeing a logical pullback or retracement “down away from” the 2,100 level right on schedule.

Note the extended negative divergences in both momentum and internals (Breadth) before the pullback.

Our first downside target is in play at 2,087.

Use this Fibonacci Grid for targeting and planning intraday and short-term trades.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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One Response to “Logical Pullback Emini Update May 31 with Targets”

  1. Perfecting the Pullback Market Update and Stock Scan May 31 | Afraid to Trade.com Blog Says:

    […] With divergences this morning, we’re seeing the logical and expected pullback. […]