S&P500 Expert Lounge Update – February 6, 2018

Good morning everyone,

These are key MA levels:  5EMA 2775, 10DMA 2812,  20DMA 2797, 50DMA 2716, 100DMA 2633, 200DMA 2533

These are key Fib Levels:  2640

These are key primary and intermediate levels: 2871(intermediate minor) 2811 (intermediate minor) 2595(intermediate minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for Tuesday, February 6, 2018

Data is light today in what is set to be another drubbing for buyers with only the JOLTS report at 10:00AMEST.  The futures market found its 200DMA in the overnight and then promply recovered back to the 100DMA.  Present price is set to open in the intermediate minor level cluster primarily between 2595 and 2577.  It will be important for buyers to establish themselves in this area, but given that the futures market tested the 200DMA, that puts very good odds on the cash market replicating the move.  Be extremely careful today because an errant entry could prove to be catastrophic. Good luck.

Primary and Intermediate Levels Detail

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