Good morning everyone,
These are key timing for today: 9:30AMEST, 1:15PMEST
These are key MA levels: 5EMA 2439, 10DMA 2437, 20DMA 2432, 50DMA 2401, 100DMA 2376, 200DMA 2286
These are key Fib Levels: 2459, 2429, 2410, 2399
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 Monday, June 26, 2017.
The overnight action has tracked both the red and magenta MSPs exceptionally well, and both point to weakness through the duration of the session which should be the theme for today. Data is light on our first trading day of the week with only the Dallas Fed Manufacturing Survey at 10:30AMEST.
The technical side of things had us close right on the 5DEMA Friday and currently is set to gap above. Sellers are going to need to show up in force to push price below the stack of 5DEMA, 10DMA, and 20DMA along with rising support. The only thing that resides above currently is the Primary and Intermediate pivot markers at the all time high. A sustained break above the current levels could lead to a runaway rally. Good luck today!