S&P500 Expert Lounge Update – August 3, 2018

Good morning everyone,

These are key MA levels:  5EMA 2815, 10DMA 2819,  20DMA 2806, 50DMA 2769, 100DMA 2722, 200DMA 2700

These are key Fib Levels: 2813, 2809

Here is today's market look at the S&P 500 for Friday, August 3, 2018

Data for today consists of the PMI Services Index at 9:45AMEST, ISM Non Manufacturing Index at 10:00AMEST, and the Baker Hughes Rig Count at 1:00PMEST.  Yesterday found rising support after starting the session weak and buyers showed up in force to reverse the tide and close the day just above declining resistance.  Buyers will look to maintain the now broadening support in an effort to build a base and go after the primary and intermediate pivot high at 2849.  Sellers objective is to create a failed breakout and take another shot at the primary minor level, 20DMA and the rising support at 2802.  Good luck today and have a great weekend

Primary and Intermediate Levels Detail

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