S&P500 Expert Lounge Update – February 8, 2017

Good morning everyone,

These are key timing for today: N/A

These are key MA levels:  5EMA 2289, 10DMA 2287,  20DMA 2280,  50DMA 2261, 100DMA 2208, 200DMA 2166

These are key Fib Levels: 2302, 2278, 2265

These are key primary and intermediate: 2275(intermediate minor), 2254(intermediate minor)

Here is today's market look at the S&P 500 for Wednesday, February 8th, 2017

A light day for data with only the EIA Petroleum Status Report at 10:30AMEST.  The technical picture found us at the first of a number of rising support lines at the close yesterday with momentum still on the buyers side above the 5DEMA although price action has been quite sloppy around it, neither side has been able to make much progress in recent days.  If a breach of support does take place today be cautious of a sharp reversal back above when the 5DEMA and 10DMA stack are touched.  Good luck today!

Primary and Intermediate Levels

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