Good morning everyone,
These are key timing for today: 11:00AMEST, 2:30PMEST
These are key MA levels: 5EMA 2420, 10DMA 2413, 20DMA 2400, 50DMA 2378, 100DMA 2354, 200DMA 2269
These are key Fib Levels: 2459, 2429, 2411, 2400
These are key primary and intermediate levels: 2410(intermediate minor), 2404(intermediate minor), 2383(intermediate), 2374 (intermediate minor), 2355(intermediate minor), 2345(intermediate minor), 2326(intermediate minor), 2255(intermediate minor)
Here is today's market look at the S&P 500 for Friday, June 2, 2017.
Happy Friday everyone! With current price action odds favor a weak to flat day via the white MSP. Data is light today with only the Baker Hughes Rig Count remaining at 1:00PMEST.
The technical picture took a turn in the favor of buyers yet again yesterday with a breakout over the broadening resistance which now resides in the 2425 area. Basing on this area on a pullback is a clear warning that higher prices are coming and most likely in a runaway fashion. On the flip side, a break of the rising support sets up a high probability of a retest of the next nearest intermediate minor level at 2410. Good luck today and have a great weekend!