No Breakout Not Today Emini Trading Update Jan 19

Jan 19, 2017: 12:09 PM CST

My heart goes out to you if you excitedly decided 2017 was the year you would begin trading the @ES for the first time.

I can’t imagine a worse environment to begin your trading journey into the index futures market than this.

Yet here we are, January almost over and we have a flat, low volatility, frustrating trading range at the highs.

On the other hand, if you enjoy trading the back-and-forth action between range support and resistance, 2017 has been a great year for you so far!

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

We continue to see price – as planned – move within the 20 point trading range and our Fibonacci Levels.

We’re in the midpoint of an expected sell-swing “down away from” 2,270 potentially toward 2,260 then 2,250.

A future breakout is on the horizon but it’s not here yet. Play the range until we do get this future breakout.

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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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).”

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