Good morning everyone,
These are key MA levels: 5EMA 2663, 10DMA 2704, 20DMA 2717, 50DMA 2739, 100DMA 2692, 200DMA 2586
These are key Fib Levels: 2905, 2807, 2688, 2617, 2450
These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2765(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)
Here is today's market look at the S&P 500 for Tuesday, March 27, 2018
Data is abound today with the Feds Redbook at 8:55AMEST, Case Shiller Home Price Index at 9:00AMEST, and Consumer Confidence, Richmond Fed Manufacturing Index, and State Street Investor Confidence Index at 10:00AMEST. The technical side of the house extended the rally off the 200DMA and sliced through the intermediate and primary minor levels mentioned in yesterday's update as a most probable near term target. The next area of interest will the the 2690's with declining resistance, intermediate minor level, and the 100DMA. Any basing that takes place on the primary minor level at 2650 should be considered a launch pad for the run towards 2690. A failure of the 2650 zone opens the door for sellers to make another attack on the 200DMA and the levels in the upper 2500's. Good luck today!