S&P500 Expert Lounge Update – June 3, 2016

Good morning everyone,

These are key timing for today:  5:30AMEST, 2:30PMEST

These are key MA levels:  5EMA 2101, 10SMA 2091, 20SMA 2074, 50SMA 2072

These are key Fib Levels:  2097, 2110, 2113

These are key primary and intermediate levels:   2086(major), 2099(minor), 2115(major)

Here is today's market look at the S&P 500 for Friday June 3, 2016

We have a huge data load for today's trading with the Employment Situation and International Trade at 8:30AMEST, PMI Services Index at 9:45AMEST, and ISM Manufacturing and Factory orders at 10:00AMEST.  On the cycles charts we have a new resistance cycle on the 288 and impulses beginning to unwind on the 480, 135, and 15.  The 5EMA continues to provide support on a daily closing basis which indicates that momentum traders are interested in buying on the dips.  A daily close below the 5EMA is a good indication of waning enthusiasm from the buyers.  Good luck today, trade safe, and have a good weekend.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.