Expected Retracement Emini Planning Update May 11
The rally took price into our Fibonacci Retracement level just shy of 2,080.
We expected a pullback (retracement) from this level and that’s precisely what we’re seeing.
Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:
From last night’s report, we were cautious/bearish into the 2,080 target in the @ES Futures.
Today’s morning session saw the pullback take price to our 2,068.50 target where we’ll focus our attention now.
Note the highlighted pivots from the short-term Fibonacci Planning Grid.
These levels will remain in effect until price breaks under 2,035 or above 2,100 so keep them as a reference.
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Corey Rosenbloom, CMT
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