Tightly Coiled Market at All Time Highs Sept 15

Sep 15, 2017: 2:12 PM CST

Are we having fun yet?

The S&P 500 and Emini (@ES) trade shy of the full 2,500 target and we’ve seen Range Days develop underneath the key resistance (target) high.

Let’s chart today’s @ES Fibonacci Grid in play:

Emini @ES Intraday Trend Reversal

Fibonacci Retracement Levels will NOT come into play if buyers trigger a breakout (and create a Short-Squeeze) so be prepared for a bullish breakout beyond 2,500.

Otherwise we remain neutral/cautious into the all-time highs.

Should the market actually pull back (can it actually do that anymore?), look toward your Fibonacci Levels above for pullback targets.

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Corey Rosenbloom, CMT

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