May 19 Collapsing Bear Emini New Level Update

May 19, 2016: 11:11 AM CST

Yesterday’s FOMC Minutes release collapsed the market back to the key 2,040 pivot and today’s session takes us under that support level.

What’s the next target and have we achieved it yet?

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

Take a moment to see yesterday’s update and the Fibonacci Grid for reference.

I’m showing a wider (larger) Fibonacci Retracement grid from the prior February low to the April high.

We’re focused on the 2,018 or 2,020 @ES level which is roughly the 38.2% Fibonacci Retracement as drawn.

We’re seeing intraday positive divergences develop into this level for a possible bullish reversal up here.

IF that does not happen AND the @ES breaks under 2,018, then we’ll likely see a bearish future ahead.  More details for members.

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

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).

5 Comments

5 Responses to “May 19 Collapsing Bear Emini New Level Update”

  1. Successful Fibonacci Grid for May 20 Emini Update | Afraid to Trade.com Blog Says:

    […] a moment to see yesterday’s update and the broader Fibonacci Grid for […]

  2. FOMC Minutes Collasped the Market - TradingGods.net Says:

    […] By Corey Rosenbloom […]

  3. May 23 Emini Update Bouncing Between the Fibonacci Levels | Afraid to Trade.com Blog Says:

    […] a moment to see the broader Fibonacci Grid for […]

  4. Breakout Bulls Emini Target Level Update May 24 | Afraid to Trade.com Blog Says:

    […] a moment to see the broader Fibonacci Grid for […]

  5. Breaking through Resistance Emini Fibonacci Grid Update May 25 | Afraid to Trade.com Blog Says:

    […] a moment to see the broader Fibonacci Grid for […]