S&P500 Expert Lounge Update – August 21, 2018

Good morning everyone,

These are key MA levels:  5EMA 2841, 10DMA 2843,  20DMA 2835, 50DMA 2794, 100DMA 2740, 200DMA 2716

These are key Fib Levels: 2929, 2829, 2821

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

Data is light today with only the Fed's Redbook release at 8:55AMEST.  Yesterday's session closed out on the last of declining resistance from the primary and intermediate pivot at 2863 and present price is currently set to marginally gap above it and challenge the pivot highs.  Buyers will be targeting the primary minor level at 2872 and new all time highs should they be able to sustain the present price level.  Sellers first order of business is to push price back below the intermediate minor level at 2848 which opens up a clear run in the levels to challenge rising support in the 2820's.  Good luck today!

Primary and Intermediate Levels Detail

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