Market Internals and the New Pullback from the Highs Feb 14

Feb 14, 2017: 11:38 AM CST

The uptrend continues! And continues… and continues.  Until today’s pullback at least.

Internals have diverged with the breakout and today gave us (at least) an initial pullback from the new high.

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

Here’s a quote to reference from Monday’s member report:

I’m really getting concerned about the stretched market and negative divergences. BE READY and willing to play short against three trend days.

For today’s session, we’ll focus on the 2,320 @ES level and play bearishly toward 2,310 if beneath it.

Otherwise, if this pullback this morning is all we get, we’ll play again with the bulls on another break to new highs.

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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