Good morning everyone,
These are key MA levels: 5EMA 2850, 10DMA 2835, 20DMA 2825, 50DMA 2784, 100DMA 2728, 200DMA 2708
These are key Fib Levels: 2929, 2829, 2821
Here is today's market look at the S&P 500 for Monday, August 13, 2018
With no economic releases, today will be strictly technical and a very important one at that as Friday's session saw us bounce off the long standing rising support. We are still lacking an intermediate pivot marker which will need to be looked out for on any new lows that could potentially arise from today's session. Below the rising support and 20DMA, sellers have a very clear shot at the 2813 intermediate minor level but more likely a test of the primary minor level at 2802 would be in store. Buyers will be looking to maintain rising support and build a base on that and the 10DMA to set up a run at the intermediate minor level at 2848 and 5DEMA. Good luck today!