S&P500 Expert Lounge Update – September 20, 2018

Good morning everyone,

These are key MA levels:  5EMA 2902, 10DMA 2891,  20DMA 2890, 50DMA 2851, 100DMA 2790, 200DMA 2747

These are key Fib Levels: 2929, 2855

Here is today's market look at the S&P 500 for Wednesday, September 20, 2018

With Jobless Claims and Philadelphia Fed Business Outlook Survey behind us, the remaining data points for this session consist of Existing Home Sales and Leading Indicators at 10:00AMEST and the EIA Natural Gas Report at 10:30AMEST.  Current price action is markedly positive and we are set to open at, or above the all time highs.  Buyers will be looking to make a run at broadening resistance which is currently cutting through the 2920's and round number psychology prevails over the all time highs.  Sellers, should they be able to slow this rally, will first be targeting the intermediate minor level at 2910 and then rising support and 10 and 20DMA's in the lower 2890's.  Good luck today!

Primary and Intermediate Levels Detail

 

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