Still Hanging Out at the Highs Emini Update Nov 15

Nov 15, 2016: 12:11 PM CST

We’re still seeing price trade at the highs after a sideways pullback instead of a downward retracement.

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

The prior swing high is just under 2,190 which is an upside target for the current market.

We saw only a minimal, sideways pullback from our negative divergences into 2,170.

Buyers supported the market at the 2,150 pivot, creating a new focal point for the short-term trader.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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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).” alt=”” width=”630″ height=”518″ />

Negative momentum and Breadth (Market Internal) divergences INTO this resistance give us pause.

Ultimately price reversed down away from the 2,170 target (discussed with members last night).

We’re seeing three retracement swings down away from 2,170 toward the 2,150 level.

At this moment, we’re seeing another bounce. Use 2,150 and 2,170 as short-term pivots in the new range.

Want these levels and additional strategy planning in advance each evening?

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).

2 Comments

2 Responses to “Still Hanging Out at the Highs Emini Update Nov 15”

  1. Yamin Says:

    It has really gone quite far, so perhaps turn around looks likely, but with the market situation as it is currently, I think we need to be thinking twice with whatever we do. I always do it in simple and straight forward way and that’s helpful with OctaFX broker using their steady spreads from 0.1 pips to high leverage up to 1.500 while there are also amazing cash back where I get 50% even through losing trades, so all this makes it work ever son swiftly!

  2. Harry Taylor Says:

    To me, it seems like this is going to continuing hanging up there, so will be surely very hesitant to make any decision to go for shorts or not. However, it’s must that we trade with certain and careful approach to gain maximum. I do it all nicely through http://www.tradewisefx.com/, it’s surely the best there is and helps quite a lot!