Emini Relentlessly Runs for the Highs

It wouldn’t be a holiday week without a bullish drift, would it?

The S&P 500 traveled the well-worn path of another bullish bounce off our Fibonacci Grid toward new highs.

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

30 Minute ES Chart

Despite an expected “holiday drift,” we’re instead seeing price maintain a 20 point trading range and now pull back once again to our “first Fibonacci” retracement at the 2,250 level.

We’re still trading within a 20 point range between the 2,250 and 2,270 levels.

Today’s price action is the expected bounce up away from 2,250 toward 2,270 which buyers achieved this morning.

For more daily updates from Corey, visit his blog at Afraid to Trade.com.