Good morning everyone,
These are key timing for today: 9:30AMEST, 2:30PMEST
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 Thursday, February 9th, 2017
We have a few MSP's that are tracking reasonably well with red, white and magenta, so watch for 9:30AMEST timing to sort through them. Data we have the Bloomberg Consumer Comfort Index at 9:45AMEST, Wholesale Trade at 10:00AMEST, and the EIA Natural Gas Report at 10:30AMEST.
The technical picture had us pull back and test broadening support yesterday before embarking on a solid rally that whipsawed the 5DEMA, 10EMA stack. Buyers are still in control of the market as we continue to break downward sloping resistance and successfully back test it. The market has plenty of room in both directions before touching any support and resistance so finding something solid to trade against with the exception of the all time high is going to be difficult. Be careful out there. Good luck.