MCM Newsletter – Outlook for the Week 27 Feb – 3 Mar

In the holiday shortened week, the market continued to defy gravity and made 2 new ATHs on Tuesday and Thursday. Apart from the initial ramp it moved more sideways, the trading range from Tuesday being surpassed only marginally.

The weekly cycles registered no significant change. Both ES and YM are above their resistance levels and YM moved closer to confirming the up impulse. The picture is bullish.

Weekly Cycles

The daily cycles paint the same picture. Both ES and YM are in confirmed (nested) up impulses. So the trend is up.

Daily Cycles

The 288 and 480min cycles    
You need to be authorized or upgrade to see this content. Please go to http://mcm-ct.com/membership-signup-dev-2/ to sign up.

S&P500 Expert Lounge Update – February 21, 2017

Good morning everyone,

These are key timing for today: 11:00AMEST, 3:00PMEST

These are key MA levels:  5EMA 2352, 10DMA 2334,  20DMA 2311  50DMA 2283, 100DMA 2224, 200DMA 2178

These are key Fib Levels: 2380, 2355, 2335, 2323

These are key primary and intermediate: 2275(intermediate minor), 2254(intermediate minor)

Here is today's market look at the S&P 500 for Tuesday, February 21, 2017

With the red MSP tracking quite well up to this point odds are on a rather flat day overall.  Data is light today with only the PMI Manufacturing Index at 9:45AMEST.

MSP

While new all time highs are expected during regular trading hours, watch for broken rising support to turn into broadening resistance going forward with little in the way of support until reaching the 2345 area on any decline.

Primary and Intermediate Levels

 

 

MCM Newsletter – Outlook for the Week 20-24 February

The market continued its bullish character from the end of the previous week and broke out quite convincingly to the upside despite a zone of strong resistance.

As a result, the weekly cycles moved further above their resistance levels in what can be considered a break-out. ES just confirmed the up impulse (by having the mcm-MA moving above the break-out level), while YM despite needing more work before confirming an impulse, has moved significantly above the resistance level as well. These new up impulses on the weekly cycles are significant and change the intermediate term picture to bullish.

Weekly Cycles

Same thing is confirmed by the daily cycles. Both ES and YM are in confirmed (nested) up impulses.

Daily Cycles

On the 288 and 480min cycles    
You need to be authorized or upgrade to see this content. Please go to http://mcm-ct.com/membership-signup-dev-2/ to sign up.

S&P500 Expert Lounge Update – February 15, 2017

Good morning everyone,

These are key timing for today: 10:00AMEST,  2:30PMEST

These are key MA levels:  5EMA 2325, 10DMA 2307,  20DMA 2293  50DMA 2274, 100DMA 2215, 200DMA 2172

These are key Fib Levels: 2338, 2322, 2213

These are key primary and intermediate: 2275(intermediate minor), 2254(intermediate minor)

Here is today's market look at the S&P 500 for Wednesday, February 15, 2017

With red, magenta and white all viable MSP options up to this point 10:00AMEST timing will be important discerning which is the most probable.  We have a health dose of economic reality today with the Consumer Price Index, Retail Sales and Empire State Manufacturing Survey at 8:30AMEST, Industrial Production at 9:15AMEST, Atlata Fed Business Inflation Expectations, Business Inventories, and Housing Market Index at 10:00AMEST, and lastly the EIA Petroleum Status Report at 10:30AMEST.

MSP

 

The technical picture still continues its relentless climb higher maintaining the most extreme of rising support and successfully backtesting broadening resistance.  On a break of the extreme rising support, another test of broadening support would be expected at the very least.  Good luck today.

Primary and Intermediate Levels

MCM Newsletter – Outlook for the Week 13-17 February

The market went sideways in the first 3 trading days of last week, not doing much of anything, before challenging and achieving new ATHs (all time highs) on Thursday and Friday.
That type of action made the weekly cycles move above their resistance levels in a manner that looks like an attempted break-out. Indeed ES is very close to confirming the up impulse (by having the mcm-MA moving above the break-out level), while YM still has work do to before it gets there.

Weekly Cycles

Same story on the daily cycles. Both ES and YM are above their resistance levels, attempting now to form a nested up impulse.

Daily Cycles

The 288 and 480min cycles    
You need to be authorized or upgrade to see this content. Please go to http://mcm-ct.com/membership-signup-dev-2/ to sign up.

S&P500 Expert Lounge Update – February 9, 2017

Good morning everyone,

These are key timing for today: 9:30AMEST, 2:30PMEST

These are key MA levels:  5EMA 2289, 10DMA 2287,  20DMA 2280,  50DMA 2261, 100DMA 2208, 200DMA 2166

These are key Fib Levels: 2302, 2278, 2265

These are key primary and intermediate: 2275(intermediate minor), 2254(intermediate minor)

Here is today's market look at the S&P 500 for Thursday, February 9th, 2017

We have a few MSP's that are tracking reasonably well with red, white and magenta, so watch for 9:30AMEST timing to sort through them.  Data we have the Bloomberg Consumer Comfort Index at 9:45AMEST, Wholesale Trade at 10:00AMEST, and the EIA Natural Gas Report at 10:30AMEST.

MSP

The technical picture had us pull back and test broadening support yesterday before embarking on a solid rally that whipsawed the 5DEMA, 10EMA stack.  Buyers are still in control of the market as we continue to break downward sloping resistance and successfully back test it.  The market has plenty of room in both directions before touching any support and resistance so finding something solid to trade against with the exception of the all time high is going to be difficult.  Be careful out there.  Good luck.

Primary and Intermediate Levels

S&P500 Expert Lounge Update – February 8, 2017

Good morning everyone,

These are key timing for today: N/A

These are key MA levels:  5EMA 2289, 10DMA 2287,  20DMA 2280,  50DMA 2261, 100DMA 2208, 200DMA 2166

These are key Fib Levels: 2302, 2278, 2265

These are key primary and intermediate: 2275(intermediate minor), 2254(intermediate minor)

Here is today's market look at the S&P 500 for Wednesday, February 8th, 2017

A light day for data with only the EIA Petroleum Status Report at 10:30AMEST.  The technical picture found us at the first of a number of rising support lines at the close yesterday with momentum still on the buyers side above the 5DEMA although price action has been quite sloppy around it, neither side has been able to make much progress in recent days.  If a breach of support does take place today be cautious of a sharp reversal back above when the 5DEMA and 10DMA stack are touched.  Good luck today!

Primary and Intermediate Levels

S&P500 Expert Lounge Update – February 7, 2017

Good morning everyone,

These are key timing for today: 11:00AMEST

These are key MA levels:  5EMA 2284, 10DMA 2287,  20DMA 2278,  50DMA 2258, 100DMA 2205, 200DMA 2164

These are key Fib Levels: 2302, 2267, 2259

These are key primary and intermediate: 2275(intermediate minor), 2254(intermediate minor)

Here is today's market look at the S&P 500 for Tuesday, February 7th, 2017

Red MSP is the most probable relative to the overnight price action.  Based off that, we could be in for a real sideways kind of day.  On the economic hit list we have Redbook at 8:55AMEST, JOLTS at 10:00AMEST, and Consumer Credit at 3:00PMEST.

MSP

Barring a swift decline between now and the start of regular trading hours, we look set to open up back near Friday's highs, and with no technical breaches to speak of buyers have the current advantage.  Good luck today!

Primary and Intermediate Levels

mcm Newsletter – Outlook for the Week 6-10 February

The market gaped down on Monday last week dropping more than 20 points from the previous weekly close to the daily low. The next day it made a lower low, but after consolidating for the next 2 days it rallied strongly on Friday and is now challenging the ATHs.
As a result, the weekly cycles are still above their resistance levels, ES more clearly while YM just a bit. No attempted break-outs just yet, but market cannot go much higher from these levels without one. So the resistance levels are important to be considered, either for an attempted break-out or if the market goes back below them.

Weekly Cycles

On the daily cycles nothing much happened. YM triggered a resistance level and the market retreated from there. Despite the bounce it is now still below it, so that resistance is not broken yet. ES whipsawed its resistance and is now back above it. This adds weight to the picture painted by the weekly cycles, meaning the market cannot push higher here without attempting a break-out above resistances which, if it happens, would mean another strong up move is likely.

Daily Cycles

The 288 and 480min cycles    
You need to be authorized or upgrade to see this content. Please go to http://mcm-ct.com/membership-signup-dev-2/ to sign up.

S&P500 Expert Lounge Update – February 3, 2017

Good morning everyone,

These are key timing for today: 11:15AMEST, 3:00PMEST

These are key MA levels:  5EMA 2280, 10DMA 2283,  20DMA 2277,  50DMA 2256, 100DMA 2203, 200DMA 2163

These are key Fib Levels: 2302, 2267, 2259

These are key primary and intermediate: 2275(intermediate minor), 2254(intermediate minor)

Here is today's market look at the S&P 500 for Friday, February 3rd, 2017

Happy Friday everyone!  The overnight session is continuing the range racing mess that we've been dealing with the past couple of days.  The red and magenta MSPs have tracked the best overall through the overnight session, so we should see some weakness as the regular trading hours session begins.   On the data front we have the Employment Situation at 8:30AMEST, PMI Services Index at 9:45AMEST, Factory Orders at 10:00AMEST, ISM Non Manufacturing Index also at 10:00AMEST, and lastly the Baker Hughes Rig Count at 1:00PMEST.

MSP

The technical side of the hous has us pushing even deeper into the apex of the compression pattern that was outlined in yesterday's update.  There is a great deal of potential energy being stored in this so the directional move out of it should be a good one.  Good luck today and we hope you have an outstanding weekend.

Primary and Intermediate Levels