S&P500 Expert Lounge Update – May 31, 2016

Good morning everyone,

These are key timing for today:  11:00AMEST, 1:30PMEST

These are key MA levels:  5EMA 2097, 10SMA 2075, 20SMA 2067, 50SMA 2068

These are key Fib Levels:  2082, 2091, 2112

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  Tuesday, May 31, 2016

With a few noteworthy data points today we could see some market movement.  We have the Chicago PMI at 9:45AMEST, and the Consumer Confidence at 10:00AMEST followed by timing going into the eleven o'clock hour.  Overnight sessions through the holiday weekend have seen a continued grind higher,  although a gap up is likely to transpire for the cash session it doesn't reflect the actual price action over the past couple of evenings.  We will be above the intermediate minor level now at 2099, sustained trade above this level opens the door for a run to the next major intermediate level at 2115.  Trade safe and have a good day.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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