Good morning everyone,
These are key MA levels: 5EMA 2721, 10DMA 2726, 20DMA 2703, 50DMA 2739, 100DMA 2673, 200DMA 2568
These are key Fib Levels: 2792, 2742, 2643, 2617, 2450
These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2727(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)
Here is today's market look at the S&P 500 for Friday, March 9, 2018
With present premarket price action, the market looks set to open up above the 50DMA and into declining resistance. With the basing on the intermediate minor level at 2727 and a lack of new intermediate pivot marker yet to be established, it would be wise to be patient if looking to play from the short side. There is a good deal of thin air between the intermediate minor level of 2727 and 2790 if trade is sustained above declining resistance. Good luck today and have a great weekend!