S&P500 Expert Lounge Update –October 20, 2016

Good morning everyone,

These are key timing for today:  10:00AMEST, 3:00PMEST

These are key MA levels:  5EMA 2137, 10DMA 2141,  20DMA 2150,  50DMA 2161, 100DMA 2143

These are key Fib Levels:  2159, 2139, 2120

These are key primary and intermediate levels:  2176(intermediate minor), 2160(intermediate minor), 2148(intermediate minor), 2131(intermediate minor), 2125(primary major), 2115(intermediate major)

Here is today's market look at the S&P 500 for Thursday, October 20, 2016

10:00AMEST is going to be key for MSP as four of the five point down from that timeframe.  An upward move after likely progresses rather relentlessly for the remainder of the day.  8:30AMEST has Jobless Claims and Philadelphia Fed Business Survey releases.  9:45AMEST is the Bloomberg Consumer Comfort Index.  10:00AMEST has Leading Indicators and Existing Home Sales.  Lastly at 10:30AMEST is the EIA Natural Gas Report.  5 and 15 min cycles have dissipated and will either refresh or roll over going into the timing this morning as well.

MSP

MSP

Buyers have managed to close the market above the 100DMA for the first time in a number of days and the 5DEMA supporting price says they have momentum in their favor for the time being.  Levels are thin till at least the intermediate minor at 2160 so a swift move up through this region would not be surprising.  Good luck today!

Primary and Intermediate Levels

Primary and Intermediate Levels

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