Good morning everyone,
These are key MA levels: 5EMA 2819, 10DMA 2822, 20DMA 2810, 50DMA 2771, 100DMA 2722, 200DMA 2701
These are key Fib Levels: 2818, 2813
Here is today's market look at the S&P 500 for Monday, August 6, 2018
The only item of interest for today's session is the TD Ameritrade Investor Movement Index at 1230PMEST. After breaking out over declining resistance, the market has continued its climb higher closing out Friday's trading session at the day's high and nearing the intermediate and primary pivot highs in the middle of a levels void. Present price levels in the overnight session will have the market opening roughly flat for the regular trading hours session and will have sellers looking to target the 5DEMA, 10DMA, intermediate minor level, and rising support all clustered between 2820 and 2810. Buyers will be looking to attack the previous primary and intermediate pivot high and make another push towards the primary minor level at the all time highs along with the established broadening resistance. Be mindful that between the two intermediate pivot markers, price has moved swiftly in both directions so resistance to pressures in either direction is going to be weak. That in turn has the ability to create some wide range and dramatic short term price moves. Trade accordingly and good luck today.