S&P500 Expert Lounge Update – September 11, 2018

Good morning everyone,

These are key MA levels:  5EMA 2882, 10DMA 2892,  20DMA 2870, 50DMA 2830, 100DMA 2773, 200DMA 2737

These are key Fib Levels: 2929, 2853, 2841

Here is today's market look at the S&P 500 for Tuesday, September 11, 2018

We have three items of interest for today's session with the Feds Redbook at 8:55AMEST along with Wholesale Trade and the Job Openings and Labor Turnover Survey at 10:00AMEST.  Buyers made three attempts at declining resistance yesterday and were held at bay closing out the day near the session lows and currently have more weakness during the overnight session.  Given current overnight action, price should open up on the primary minor level at 2872 which will be important for buyers to hold if they don't want to see price fall into the 2840's.  Should buyers break out above the declining resistance, their only other challenge will be the 10DMA at 2892 before making a full run at new all time highs.  Good luck today!

Primary and Intermediate Levels Detail

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