S&P500 Expert Lounge Update –August 31, 2016

Good morning everyone,

These are key timing for today:

These are key MA levels:  5EMA 2175, 10DMA 2179, 20DMA 2180, 50DMA 2150

These are key Fib Levels:  2172, 2169, 2156

These are key primary and intermediate levels:  2180(minor), 2155(minor), 2148(minor)

Here is today's market look at the S&P 500 for Wednesday, August 31, 2016

We have a few data points on tap today, but we may run into some consolidation as a function of the holiday weekend coming up along with the NFP release on Friday.  8:15AMEST is the ADP Employment Report, 9:45AMEST we have the Chicago PMI with Pending Home Sales at 10:00AMEST, and lastly there is the EIA Petroleum Status at 10:30AMEST.  Intraday MSP is hinting at a weak first portion of the session followed by afternoon strength.  60min Cycles put in a Bearish Retrace during the overnight session and there is also a new support cycle at yesterday's lows via the 288 chart.  This will be the defined range to be mindful of in the near term.  Good luck today.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

 

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