S&P500 Expert Lounge Update –August 15, 2016

Good morning everyone,

These are key timing for today: N/A

These are key MA levels:  5EMA 2183, 10DMA 2176, 20DMA 2173, 50DMA 2129

These are key Fib Levels:  2191, 2171

These are key primary and intermediate levels:  2180(minor), 2155(minor), 2148(minor)

Here is today's market look at the S&P 500 for Friday, August 12,  2016

A light Monday on data with only the Housing Market Index at 10:00AMEST.  15 minute cycles put a bullish retrace in through the overnight session which should lead way to another ATH.  An interesting event with the daily YM chart has a new unconfirmed support cycle in play which will confirm at the end of today's session.  This will be a key area once it confirms considering our nearing market turn window.  We are only seven days away from the official projected turn date via long term MSP but we are near enough the window of opportunity at this point to begin to look for signs that a potential turn is upon us.  Good luck today!

Primary and Intermediate Levels

Primary and Intermediate Levels