S&P500 Expert Lounge Update –August 2, 2016

Good morning everyone,

These are key timing for today: 11:30AMEST, 2:45PMEST

These are key MA levels:  5EMA 2170, 10DMA 2170, 20DMA 2156, 50DMA 2116

These are key Fib Levels:  2191, 2186, 2156, 2145

These are key primary and intermediate levels:  2130(minor), 2126(primary major), 2116(major)

Here is today's market look at the S&P 500 for Tuesday, August 2,  2016

Today is light on the data front with Personal Income and Outlays at 8:30AMEST and the Redbook at 8:55AMEST.  We've traversed from the upper end to the lower end of the multiweek trading range so there is really nothing new from a technical aspect.  As stated countless times before, play the edges till it finally breaks.  Only noteworthy cycle happenings in the overnight is a five minute Bearish Retrace and an End at the retest of the ONL.  Good luck today.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels