The S&P 500 Is Stuck In A Tight Range As Bulls And Bears Battle It Out

From Corey Rosenbloom: In the battle for market dominance we still don’t have a winner. Bulls? Bears? Nada.

Instead we remain trapped at the highs in a volatile sideways trading range.

Here’s today’s updated S&P 500 Emini (@ES) trading levels for your trades:

Supply and demand move price; it’s nothing magical.

Right now we’re at a critical reference area – 2,270 in the @ES which is just under the all-time high.

Buyers want to extend the market higher with a breakout, and they’ve countered each of the three recent sell-offs of the bears.

With neither side victorious, we’re seeing volatility increase and our Fibonacci Levels serving as targets and short-term inflection (reversal) points.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

The SPDR S&P 500 ETF Trust (NYSE:SPY) closed at $227.05 on Friday, up $0.52 (+0.23%). Year-to-date, the largest ETF tied to the S&P 500 has gained 1.57%.

SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 109 ETFs in the Large Cap Blend ETFs category.


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