S&P500 Expert Lounge Update – June 29, 2018

Good morning everyone,

These are key MA levels:  5EMA 2722, 10DMA 2744,  20DMA 2756, 50DMA 2716, 100DMA 2702, 200DMA 2667

These are key Fib Levels:   

Here is today's market look at the S&P 500 for Friday, June 29, 2018

Happy Friday everyone!  We have a few items of interest this morning with Personal Income and Outlays at 8:30AMEST, Chicago PMI at 10:00AMEST, Consumer Sentiment at 10:00AMEST, and the Baker Hughes Rig Count at 1:00PMEST.  The technical picture still has price in limbo after yesterday's impressive recovery by the buyers. Present price in the overnight has us back up to the first of three in a declining resistance array.  The primary minor level at 2737 and the next declining resistance will be their primary target for today.  Sellers will be looking to attack the 100DMA and build a base below it to continue their slow ratcheting decline.  Good luck today and have a great weekend everyone.

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – June 28, 2018

Good morning everyone,

These are key MA levels:  5EMA 2728, 10DMA 2751,  20DMA 2755, 50DMA 2716, 100DMA 2701, 200DMA 2666

These are key Fib Levels:  2680

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

The remaining data for the day is spread through the session with the Bloomberg Consumer Comfort Index at 9:45AMEST, EIA Natural Gas Report at 10:30AMEST, Kansas City Fed Manufacturing Index at 11:00AMEST, and Farm Prices at 3:00PMEST.  Sellers showed up in force yesterday shoving the market through the 100DMA and marginally piercing rising support.  Overnight price action has them opening below that level at present and in a giant  levels void that opens the door to the lower 2680's and then a challenge of the intermediate pivot level at 2677 and the 200DMA.  Buyers will be looking to put a floor under this immediately this morning and open the market at flat to prevent any technical damage which would be likely to set off a cascade of more selling.  Nearest term target for buyers will be the 50DMA and intermediate minor level at 2717 followed by a challenge of the steepest declining resistance currently cutting through the mid 2720's.  Good luck today!

Primary and Intermediate Levels Detail

 

 

 

S&P500 Expert Lounge Update – June 27, 2018

Good morning everyone,

These are key MA levels:  5EMA 2742, 10DMA 2758,  20DMA 2756, 50DMA 2710, 100DMA 2702, 200DMA 2664

These are key Fib Levels:   2731, 2739

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

There is a decent amount of data this morning with Durable Goods, International Trade, and Wholesale Inventories at 8:30AMEST, Pending Home Sales at 10:00AMEST, and the EIA Petroleum Status Report at 10:30AMEST.  The technical side of the house saw a semi decent day for buyers yesterday as they were able to push price back up to the primary minor level at 2733 before losing some ground to the sellers.  While there was some weakness in the overnight, buyers have been able to rally and take back all the lost ground and we are currently set to open back up right around yesterday's close.  Any follow through by the buy side will be looking to push price up towards the intermediate minor level at 2743 and the first of declining resistance.  Sellers will be looking to defend yesterday's pivot high and the primary minor level at 2733 and make a run back at the 50DMA and intermediate minor level at 2716.  Below that gives them breathing room all the way to the 100DMA, intermediate minor level at 2698 and rising support cutting through the lower 2700 zone.  Good luck today!

 

Primary and Intermediate Levels Detail

 

S&P500 Expert Lounge Update – June 26, 2018

Good morning everyone,

These are key MA levels:  5EMA 2750, 10DMA 2765,  20DMA 2755, 50DMA 2710, 100DMA 2702, 200DMA 2664

These are key Fib Levels:   2731, 2739

Here is today's market look at the S&P 500 for Tuesday, June 26, 2018

We have two items of interest early in the trading session with Consumer Confidence and the Richmond Fed Manufacturing Index at 10:00AMEST.  Yesterday was a rough day for buyers as sellers took price and shoved it all the way down to the 100DMA and sliced through multiple levels that buyers are now going to have to try and reclaim.  Given the severity of the drop yesterday, we're likely to see some consolidation today as both sides reposition themselves for the next move.  Buyers will be looking to maintain a base above the 50DMA in an attempt to make a run at the primary minor level at 2732.  Sellers objective is very clear.  They'll be looking to go after the next intermediate minor level at 2683 and challenge the intermediate pivot at 2675.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – June 25, 2018

Good morning everyone,

These are key MA levels:  5EMA 2773, 10DMA 2775,  20DMA 2753, 50DMA 2710, 100DMA 2705, 200DMA 2660

These are key Fib Levels:   2779

Here is today's market look at the S&P 500 for Monday, June 25, 2018

Data for today is light but important with New Home Sales at 10:00AMEST, and the Dallas Fed Manufacturing Survey at 1030AMEST.  The technical side of the house has had some downside weakness in the overnight which has us set to open up on broadening support and intermediate minor level in the 2741/42 region.  This area between 2740 and 2730 will be important for buyers go build a larger base if the hope to challenge the primary pivot level back at 2790.  A slip here could easily take a run back at the 100DMA below 2710.  Good luck today!

 

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – June 21, 2018

Good morning everyone,

These are key MA levels:  5EMA 2773, 10DMA 2775,  20DMA 2753, 50DMA 2710, 100DMA 2705, 200DMA 2660

These are key Fib Levels:   2779

Here is today's market look at the S&P 500 for Thursday, June 21, 2018

We have a couple items of note today with the Bloomberg Consumer Comfort Index at 9:45AMEST, Leading Indicators at 10:00AMEST, and the EIA Natural Gas Report at 10:30AMEST.  Buyers made an attempt to break out of the consolidation yesterday with a minor breach of declining resistance but failed to reclaim the 10DMA.  The market is set to open marginally lower at present and buyers will be looking to put a floor under price at the intermediate minor level at 2761.  The near term target for them is the primary minor level at 2779 and then an attempt at the primary and intermediate pivot up at 2790.  Good luck today!

Primary and Intermediate Levels Detail

2018

S&P500 Expert Lounge Update – June 20, 2018

Good morning everyone,

These are key MA levels:  5EMA 2774, 10DMA 2776,  20DMA 2751, 50DMA 2708, 100DMA 2706, 200DMA 2658

These are key Fib Levels:   2779

Here is today's market look at the S&P 500 for Wednesday, June 20, 2018

We have a couple items of interest to start the session with Existing Home Sales at 10:00AMEST and Crude Oil Inventories at 10:30AMEST.  The technical side of the house saw us bottom out yesterday on rising support and the intermediate minor level at 2742 and rally for the rest of the session.  The next target for buyers will be to challenge the 5DEMA and 10DMA along with declining resistance at 2770.  Sellers will be looking to take another run at the 20DMA and rising support.  The in between of these two boundaries is a dead zone best left untouched.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – June 19, 2018

Good morning everyone,

These are key MA levels:  5EMA 2779, 10DMA 2775,  20DMA 2749, 50DMA 2705, 100DMA 2707, 200DMA 2657

These are key Fib Levels:   2749, 2733

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

Data is light today with only the Feds Redbook at 8:55AMEST.  Sellers showed up en masse during the overnight session as price is currently set to open up down near rising support and the 20DMA.  A failure there opens the door to at least the next primary minor level at 2732 if not a full on run at the 100DMA and intermediate minor level at 2710.  Buyers will be looking to put a floor under price at the 20DMA and rising support to prevent any technical damage and ideally work on building a base with their new intermediate pivot marker in place for another shot at declining resistance currently working its way through the upper 2760's.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – June 18, 2018

Good morning everyone,

These are key MA levels:  5EMA 2781, 10DMA 2772,  20DMA 2746, 50DMA 2702, 100DMA 2708, 200DMA 2655

These are key Fib Levels:   2822, 2783, 2766

Here is today's market look at the S&P 500 for Monday, June 18, 2018

Data is light this morning with just Consumer Expectations at 11:00AMEST.  Sellers stepped in during the overnight session after stalling buyers at the 5DEMA and declining resistance during Friday's session at the primary minor level at 2779.  This morning's open if below the 10DMA and intermediate minor level at 2664 could mean a good day for sellers as their next target would be the 20DMA and rising support all the way down in the mid 2740's.  Should buyers be able to maintain the 10DMA intermediate minor level at 2764, that will give them an opportunity to finally break the declining resistance and make a run for a new primary and intermediate pivot high above 2792.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – June 15, 2018

Good morning everyone,

These are key MA levels:  5EMA 2781, 10DMA 2767,  20DMA 2743, 50DMA 2699, 100DMA 2708, 200DMA 2654

These are key Fib Levels:   2822, 2783, 2766

Here is today's market look at the S&P 500 for Friday, June 15, 2018

Happy Friday everyone!  There is a respectable amount of data for this last trading session of the week.  We have Industrial Production at 9:15AMEST, Consumer Sentiment at 10:00AMEST, and the Baker Hughes Rig Count at 1:00PMEST.  The technical side of the house didn't not change at all from with respect to yesterday's price action.  Price remained snuggled up to the primary minor level at 2779 for the duration of the session while failing to break out over declining resistance.  Given the overnight price action, buyers have lost their grasp and sellers look to rule the day with a lower open while targeting yesterday's first stated objective of the intermediate minor level at 2766 along with the 10DMA.  That level will be the major key for buyers to defend or risk losing a substantial amount of ground in the levels void all the way down to rising support, 20DMA and intermediate minor level at 2743.  Buyers primary goal is to stabilize price at the 2766 intermediate minor level and build a base to try and reclaim the primary minor level at 2779 and break out over the declining resistance and 5DEMA in an attempt to put in a new primary and intermediate pivot high.  Good luck today and have a phenomenal weekend!

 

Primary and Intermediate Levels Detail