Good morning everyone,
These are key timing for today: 10:00AMEST, 1:00PMEST
These are key MA levels: 10DMA 2066, 50DMA 2076, 2080DMA
These are key Fib Levels: 2099, 2089, 2054
These are key primary and intermediate levels: 2086(major), 2072(major), 2056(minor)
Here is today's market look at the S&P 500 for Thursday, June 30, 2016
With HAL exiting all positions at close of business yesterday and longer term MSP looking for a turn after the holiday we can now begin looking for a topping process. This is not to say that there aren't new highs coming, but the old adage that topping is a process and bottoms an event applies which means patience. On the economic data front we have the Chicago PMI at 9:45AMEST and also Fed member Bullard speaking at 2:00PMEST. We have 3rd Ends on both the 5min and 15min cycle charts along with resistance cycles on both the 288 and 480 at the overnight highs which is going to make for some choppy price action on a revisit to those levels. Good luck today and remember cash is a position.