S&P500 Expert Lounge Update –July 8, 2016

Good morning everyone,

These are key timing for today: 12:30PMEST

These are key MA levels:  5EMA 2103, 10DMA 2082, 20DMA 2080, 50DMA 2078

These are key Fib Levels:  2125

These are key primary and intermediate levels:  2126(primary major), 2116(major), 2099(minor), 2086(major),

Here is today's market look at the S&P 500 for Friday, July 8,  2016

Overnight was markedly positive and finalized by what the market deems good news in the employment arena as of this writing.  With the spike from the employment announcement we have capitulation bars on the 5min into the morning highs but would appear to need cycle unwinds there.  The 135 is looking for a 2nd end with this ramp and the 480 is looking to complete a full cycle with an End.  The RSI cycles are currently working on resistances at the highs and a retrace seems like a relatively high probability upon the cash market open.  Good luck today and profitable trading.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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