S&P500 Expert Lounge Update – July 31, 2018

Good morning everyone,

These are key MA levels:  5EMA 2825, 10DMA 2816,  20DMA 2792, 50DMA 2763, 100DMA 2720, 200DMA 2696

These are key Fib Levels: 2823, 2788

Here is today's market look at the S&P 500 for Tuesday, July 31, 2018

There are a few items of interest remaining this morning on the economics front with the Chicago PMI at 9:45AMEST and Consumer Confidence and State Street Investor Confidence Index at 10:00AMEST.  Sellers have managed to push price back down to the primary minor level at 2802 which has so far provided support albeit sloppily which indicates there is potential for more weakness to follow.  Sellers key focus is to attempt to break the intermediate minor level and 20DMA at 2789 in an attempt to challenge rising support which is currently crossing through the lower 2780's.  Buyers first objective is is to reclaim the 10DMA and intermediate minor level at 2812 in an attempt to create a base to attack declining resistance and make another run at the primary and intermediate pivot.  Good luck today!

Primary and Intermediate Levels Detail

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