Market Internals and the New Pullback from the Highs

The uptrend continues! And continues… and continues.  Until today’s pullback at least.

Internals have diverged with the breakout and today gave us (at least) an initial pullback from the new high.

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

30 Minute ES Chart

Here’s a quote to reference from Monday’s member report:

I’m really getting concerned about the stretched market and negative divergences. BE READY and willing to play short against three trend days.

For today’s session, we’ll focus on the 2,320 @ES level and play bearishly toward 2,310 if beneath it.

Otherwise, if this pullback this morning is all we get, we’ll play again with the bulls on another break to new highs.

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