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ES Attempts a Break Out to the Upside


Thursday November 17th, 2016
ES Attempts a Break Out to the Upside
by Mike Paulenoff www.MPTrader.com

On Tuesday, ES (Emini S&P 500) popped to a new post-Trump victory high at 2185.00, taking out last Thursday's high at 2180.50, but since has failed to follow through to the upside, leaving a minor Bull Trap high in place.

As long as 2158.50 support contains any forthcoming weakness, the Trump upleg pattern will remain constructive.

However, a sustained break of 2157 will begin to weaken the pattern, and will point to a revisit more important support at 2148.75-2147.75.

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