Good morning everyone,
These are key MA levels: 5EMA 2880, 10DMA 2890, 20DMA 2876, 50DMA 2837, 100DMA 2777, 200DMA 2740
These are key Fib Levels: 2929, 2896, 2859
Here is today's market look at the S&P 500 for Thursday, September 13, 2018
We have a couple important premarket releases in the form of Consumer Price Index and Jobless Claims at 8:30 followed by the EIA Natural Gas Report at 10:30AMEST, and finally the Treasury Budget at 2:00PMEST. The technical picture since putting in the intermediate pivot marker, while very choppy, has slowly shifted to an overall positive stance for buyers with breaking out over declining resistance to finding support on the 5DEMA. The only real hurdle for them at present is to maintain the 10DMA on a closing basis as they attempt to take price back above the intermediate minor level at the all time highs. Sellers will need to push price below the 2870 to 2865 basing area if they are to have any hopes of gaining downside momentum in the coming sessions. Good luck today!