S&P500 Expert Lounge Update –July 26, 2016

Good morning everyone,

These are key timing for today: 11:30AMEST, 3:00PMEST

These are key MA levels:  5EMA 2169, 10DMA 2165, 20DMA 2137, 50DMA 2103

These are key Fib Levels:  2179, 2169, 2150, 2138

These are key primary and intermediate levels:  2130(minor), 2126(primary major), 2116(major)

Here is today's market look at the S&P 500 for Tuesday, July 26,  2016

Happy FOMC meeting begin day everyone!  As assumed from last week, the market has remained in a consolidation/termination pattern in anticipation of tomorrow's announcement.  Data docket has a reasonable number of items with PMI Services at 9:45AMEST, New Home Sales, Consumer Confidence, Richmond Fed Manufacturing Index, and State Street Investor Confidence all hitting the tape at 10:00AMEST.  We have a new unconfirmed 2nd End on the 480 charts and many of the other cycle charts have confirmed a trading range.  It may be in everyone's best interest just to play the edges till tomorrow's announcement before getting overly committed to a direction.  Good luck today.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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