S&P500 Expert Lounge Update – May 20, 2016

Good morning everyone,

These are key timing for today:  9:45AMEST,  1:30PMEST

These are key MA levels:  5EMA 2050, 10SMA 2056, 20SMA 2064, 50SMA 2061, 200SMA 2008

These are key primary and intermediate levels:  2020(minor) 2021(minor primary) 2040(minor) 2060(minor), 2072(major),

Here is today's market look at the S&P 500 for  Friday, May 20th, 2016

After bouncing cleanly off symmetry at yesterday's low of the day the market has sustained a significant rally and has held through the overnight.  We have Existing Home Sales as our one significant data point today at 10:00AMEST which coincides with MSP timing.  In the cycles we currently have a Bullish Retrace on the 15min that has served as support through the overnight session and a 2nd End on the 60min chart that should provide overhead resistance.  Happy Friday and enjoy your weekend!

CFD SPX

CFD SPX

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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