S&P500 Expert Lounge Update – February 27, 2018

Good morning everyone,

These are key MA levels:  5EMA 2729, 10DMA 22712,  20DMA 2721, 50DMA 2733, 100DMA 2660, 200DMA 2555

These are key Fib Levels:   2792, 2742, 2643, 2617, 2521

These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2727(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for Tuesday, February 27, 2018

Today's data is abound starting with Durable Goods, International Trade, Retail Inventories, and Wholesale Inventories at 8:30AMEST, the Feds Redbook at 8:55AMEST, Case-Shiller Home Price Index and FHFA House Price Index at 9:00AMEST, Consumer Confidence, Richmond Fed Manufacturing Index, and State Street Investor Confidence Index at 10:00AMEST, and lastly, Farm Prices at 3:00PMEST.  The technical side of the house had us base on the 10DMA and just below the intermediate minor level at 2727 along with the 20 and 50DMA's before knifing higher.  This general area becomes important at yesterday's highs with the generation of a new primary minor level which sellers can build a second opportunity to send the market much lower from should the 2730 area fail.  Rising support coming through the 2760 level will be the first clue whether sellers are gaining an upper hand in the next potential leg down.  Good luck today!

Primary and Intermediate Levels Detail

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply