S&P500 Expert Lounge Update – March 28, 2018

Good morning everyone,

These are key MA levels:  5EMA 2643, 10DMA 2689,  20DMA 2711, 50DMA 2736, 100DMA 2692, 200DMA 2587

These are key Fib Levels:   2905, 2807, 2688, 2617, 2450

These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2765(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for Wednesday, March 28,  2018

With an inordinate amount of data to hit today things could be a little choppy as we have GDP, International Trade Corporate Profits, Retail Inventories, and Wholesale Inventories at 8:30AMEST, Pending Home Sales at 10:00AMEST, EIA Petroleum Status Report at 10:30AMEST, and Farm Prices at 3:00PMEST.  Price made a solid attempt at an initial base off of the 2650 Primary minor level before encountering the 5DEMA and a slew of momentum sellers that shoved trade all the way back down to near the 200DMA and rising support along with the intermediate minor level at 2595 which ultimately arrested the fall.  The range between 2690 and 2770 is now very thin as a result of price traversing this area numerous times between the levels and price will have a tendency to move through this space swiftly as was witnessed in yesterday's decline, so be cautious when initiating trades in this area because they could go against you quickly.  Anything between yesterday's highs and lows is wrought with danger so it would be best to play the edges of that range.  Good luck today!

Primary and Intermediate Levels Detail

 

S&P500 Expert Lounge Update – March 27, 2018

Good morning everyone,

These are key MA levels:  5EMA 2663, 10DMA 2704,  20DMA 2717, 50DMA 2739, 100DMA 2692, 200DMA 2586

These are key Fib Levels:   2905, 2807, 2688, 2617, 2450

These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2765(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for  Tuesday, March 27,  2018

Data is abound today with the Feds Redbook at 8:55AMEST, Case Shiller Home Price Index at 9:00AMEST, and Consumer Confidence, Richmond Fed Manufacturing Index, and State Street Investor Confidence Index at 10:00AMEST.  The technical side of the house extended the rally off the 200DMA and sliced through the intermediate and primary minor levels mentioned in yesterday's update as a most probable near term target.  The next area of interest will the the 2690's with declining resistance, intermediate minor level, and the 100DMA.  Any basing that takes place on the primary minor level at 2650 should be considered a launch pad for the run towards 2690.  A failure of the 2650 zone opens the door for sellers to make another attack on the 200DMA and the levels in the upper 2500's.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – March 19, 2018

Good morning everyone,

These are key MA levels:  5EMA 2751, 10DMA 2750,  20DMA 2735, 50DMA 2748, 100DMA 2691, 200DMA 2585

These are key Fib Levels:   2905, 2807, 2643, 2617, 2450

These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2765(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for  Monday, March 19, 2018

Today the market is spared from the economist with no releases to speak of.  We are set to open markedly lower this morning down near the 20DMA below 2740.  Reasonably decent support should come into play at the 2727 intermediate minor level and broadening support which price has been sliding down the past few days.  A breach of that most likely takes us back below 2700 and to the next lower intermediate level with the 100DMA.  Overhead we have both a primary and intermediate pivot marker in play along with declining resistance and primary and intermediate levels all clustered just above 2780.  Between the two is a range racing paradise.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – March 14, 2018

Good morning everyone,

These are key MA levels:  5EMA 2760, 10DMA 2733,  20DMA 2727, 50DMA 2745, 100DMA 2680, 200DMA 2574

These are key Fib Levels:   2905, 2807, 2643, 2617, 2450

These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2765(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for  Wednesday, March 14, 2018

The Remaining data for today's session consists of the Atlanta Fed Business Inflation Expectations and Business Inventories at 10:00AMEST, and the EIA Petroleum Status Report at 10:30AMEST.  Yesterday saw us hit the psychological 2800 level before selling off back to the 5DEMA  where momentum traders stepped back into the fray.  With broadening and rising support coupled with the moving averages and intermediate minor level at 2727 should prove to be solid support for buyers.  Below that zone and things get thin at least back down to the intermediate minor level and 100DMA in the upper 2600 zone.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – March 9, 2018

Good morning everyone,

These are key MA levels:  5EMA 2721, 10DMA 2726,  20DMA 2703, 50DMA 2739, 100DMA 2673, 200DMA 2568

These are key Fib Levels:   2792, 2742, 2643, 2617, 2450

These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2727(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for  Friday, March 9, 2018

With present premarket price action, the market looks set to open up above the 50DMA and into declining resistance.  With the basing on the intermediate minor level at 2727 and a lack of new intermediate pivot marker yet to be established, it would be wise to be patient if looking to play from the short side.  There is a good deal of thin air between the intermediate minor level of 2727 and 2790 if trade is sustained above declining resistance.  Good luck today and have a great weekend!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – March 7, 2018

Good morning everyone,

These are key MA levels:  5EMA 2706, 10DMA 2720,  20DMA 2699, 50DMA 2737, 100DMA 2670, 200DMA 2561

These are key Fib Levels:   2792, 2742, 2643, 2617, 2450

These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2727(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for Wednesday, March 7, 2018

The overnight price action was a sellers delight with price dropping over 40 points in less than an hours time.  The implications on the cash chart are going to have us breaking the rising support after multiple failed attempts at the intermediate minor level at 2727.  We are currently set to open between the 5DEMA and the 20DMA and have a intermediate minor level just underneath at 2695.  We'll need to look for some confirmation by way of an intermediate pivot marker upon open at yestarday's highs.  Should sellers be able to push price below rising support and the 100DMA at 2670 then a much more severe decline becomes a high probability.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – March 5, 2018

Good morning everyone,

These are key MA levels:  5EMA 2721, 10DMA 2720,  20DMA 2697, 50DMA 2736, 100DMA 2666, 200DMA 2561

These are key Fib Levels:   2792, 2742, 2643, 2617, 2450

These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2727(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for Monday, March 5, 2018

Data is light today to start out the trading week as we have PMI Services Index at 9:45AMEST, ISM Non-Manufacturing Index at 10:00AMEST, and the TD Ameritrade Investor Movement Index at 12:30AMEST.  As was to be expected leading into this mornings update, buyers stepped in at the primary minor level of 2651 and put a floor under the market and would up closing it 40 points higher at the intermediate minor level just under the psychological 2700 level.  The structure off the lows is a clear inverted head and shoulders pattern with the two shoulders bouncing off the 100DMA and targets the 5DEMA, 50DMA, and 10DMA stack along with the intermediate minor level in the 2720 to 2730 zone.  That will be an area of high interest for both buyers and sellers.  Given the intermediate pivot markers, the present structure down from the all time highs is converging into a compression pattern, and given the size, should have a very impressive resolution regardless of the direction of the break.  Good luck today!

Primary and Intermediate Levels Detail

MCM Newsletter – Outlook for 1st week of March

The market made a lower high last week, very close to the 76,4% retrace of the entire decline off the ATH and then dropped with conviction. More than 140 points from the high registered on Tuesday, to the lows on Friday. From there, it managed to bounce but the market looks to be in a dangerous set-up for longs. As the 1st wave down from the ATH was more than 300 points, if this lower high holds, we might get another wave down of at least equal (but usually greater) strength.
No big changes in the weekly cycles. The move lower off the ATH did turn directionality down and this has continued to move down, despite the convincing bounce off the lows. That is usually a bearish sign and likely means the bounce will eventually be sold.

Weekly Cycles

The daily cycles had triggered supports in the form of bullish retraces (BR) at the lows and now ES also triggered a corresponding END resistance at the lower high. This means that level is very significant and likely is strong resistance.

Daily Cycles

The 288 and 480min cycles    
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S&P500 Expert Lounge Update – March 1, 2018

Good morning everyone,

These are key MA levels:  5EMA 2737, 10DMA 2726,  20DMA 2711, 50DMA 2736, 100DMA 2663, 200DMA 2558

These are key Fib Levels:   2792, 2742, 2643, 2617, 2450

These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2727(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for March 1, 2018

We have a respectable amount of data set to hit the tape this morning in way of PMI Manufacturing Index and Bloomberg Consumer Comfort Index at 9:45AMEST, ISM Manufacturing Index and Construction Spending at 10:00AMEST, and the EIA Natural Gas Report at 10:30AMEST.  Buyers are going to have their work cut out for them as we knifed through to the very lower bound of the stacked daily moving averages and the 2727 intermediate minor level.  The overnight pushed through to the upper 2600's but has since recovered and looks set to open the cash market at roughly flat.  As emphasized yesterday, a failure of this area is going to produce a rapid descent down to broadening resistance, the 100DMA, and the intermediate minor level at 2650 area.  If buyers can manage a recover back above the 50DMA and establish a base there, then and only then would the perceived downside move be called into question.  Good luck today!

Primary and Intermediate Levels Detail