S&P500 Expert Lounge Update – January 17, 2018

Good morning everyone,

These are key MA levels:  5EMA 2765, 10DMA 2745,  20DMA 2715, 50DMA 2652, 100DMA 2584, 200DMA 2401

These are key Fib Levels: 2798, 2789 

These are key primary and intermediate levels: 2595(intermediate minor) 2577 (intermediate minor), 2445(intermediate minor), 2490(intermediate minor)

Here is today's market look at the S&P 500 for Wednesday, Janurary 17, 2018

Today's data is abundant with MBA Morgage Applications at 7:00AMEST, Fed's Redbook at 8:55AMEST, Industrial Production at 9:15AMEST, Housing Market Index at 10:00AMEST, and the Fed's Beige Book at 2:00PMEST.  After overthrowing broadening resistance sellers stepped in and managed to completely reverse the gap on the day and pull the market back to near the 5DEMA.  So long as sellers can defend the 2798 level they have the potential to build a larger decline, but while the decline was dramatic, there is no technical indications of a reversal at present especially since momentum buyers were eager to buy up the 5DEMA.  Sellers next target would be to test the area between 2760 and 2750 and close for the session below the 5DEMA upon a break of yesterday's lows.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – January 11, 2018

Good morning everyone,

These are key timing for today: n/a

These are key MA levels:  5EMA 2742, 10DMA 2716,  20DMA 2696, 50DMA 2640, 100DMA 2574, 200DMA 2495

These are key Fib Levels:  2756, 2741, 2736

These are key primary and intermediate levels: 2595(intermediate minor) 2577 (intermediate minor), 2445(intermediate minor), 2490(intermediate minor)

Here is today's market look at the S&P 500 for Wednesday, January 10,  2017

Today's data consists of Jobless Claims and Producer Price Index at 8:30AMEST, Bloomberg Consumer Comfort Index at 9:45AMEST, EIA Natural Gas Report at 10:30AMEST, and the Treasury Budget at 2:00PMEST.  The technical picture has us up against declining resistance after cleanly bouncing off the 5DEMA as momentum players stepped back into the fray.  Given the current overnight price action we are currently marginally above the declining support but it is premature to read into that too much because price can do a lot of things between now and the opening bell.  Until a close below the 5DEMA buyers still have a firm grasp on overall market direction, and a break of the declining resistance would give more validity to that fact remaining valid.  The 2725 to 2530 zone will still be a solid area of defense for buyers should the sellers be able to push price down even further.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – January 9, 2018

Good morning everyone,

These are key timing for today: n/a

These are key MA levels:  5EMA 2724, 10DMA 2703,  20DMA 2686, 50DMA 2633, 100DMA 2568, 200DMA 2491

These are key Fib Levels:  2765

These are key primary and intermediate levels: 2595(intermediate minor) 2577 (intermediate minor), 2445(intermediate minor), 2490(intermediate minor)

Here is today's market look at the S&P 500 for Tuesday, January 9,  2017

The data flow today is again light with only the NFIB Small Business Optimism Index at 6:00AMEST, the Fed's Redbook at 8:55AMEST, nd the JOLTS Report at 10:00AMEST.  Very little has changed from yesterday's update as price continued to push up against the all time highs in a small broadening formation and continues to levitate above the broken broadening resistance now potentially support.  The first major challenge area on any pullback is going to be in the 2725 to 2730 zone with the most substantial consolidation area of this run and an accompanying gap out of it.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – January 8, 2018

Good morning everyone,

These are key timing for today: 2765

These are key MA levels:  5EMA 2709, 10DMA 2696,  20DMA 2681, 50DMA 2629, 100DMA 2565, 200DMA 2489

These are key Fib Levels:  2732

These are key primary and intermediate levels: 2595(intermediate minor) 2577 (intermediate minor), 2445(intermediate minor), 2490(intermediate minor)

Here is today's market look at the S&P 500 for Monday, January 8,  2017

Data is virtually nonexistent today with only the TD Ameritrade Investor Movement Index release at 12:30PMEST.  Friday's price action extended us out over broadening resistance and well above the 5DEMA which should lead to some consolidation in the near term.  Seeing what kind of reaction takes place on a retest of the now potential rising support will be important.  A failure from this level hints that a run back at the lower bound is highly probable and a quality fifty point swing at this stage back to the 2690's.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – November 28, 2017

Good morning everyone,

These are key timing for today: 10:30AMEST, 1:30PMEST

These are key MA levels:  5EMA 2596, 10DMA 2587,  20DMA 2585, 50DMA 2557, 100DMA 2509, 200DMA 2448

These are key Fib Levels: 2549, 2557, 2592, 2607

These are key primary and intermediate levels: 2595(intermediate minor) 2577 (intermediate minor), 2445(intermediate minor), 2490(intermediate minor)

Here is today's market look at the S&P 500 for Tuesday, November 28,  2017

The overnight session, much like last nights, looks set to open higher and is taking on the characteristics of the red MSP which while a bit choppy through the early session looks to add onto the strength that started in the overnight as the session progresses.  Data is abundant today with International Trade in Goods at 8:30AMEST, Feds Redbook at 8:55AMEST,  FHFA House Price Index and Case Schiller Home Price Index at 9:00AMEST, Consumer Confidence, Richmond Fed Manufacturing, and State Street Investor Confidence all coming in at 10:00AMEST,  and lastly the Gallup US Economic Confidence Index at 2:00PMEST.

MSP

Again we challenged the rising support into the close and looks set to gap higher again this morning.  Until we trade through this level on a sustained basis then buyers still have a firm grasp on the market.  Once this level breaks we can look for the intermediate minor level at 2595 as a clear downside minimum target.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – November 21, 2017

Good morning everyone,

These are key timing for today: 11:30AMEST, 2:30PMEST

These are key MA levels:  5EMA 2578, 10DMA 2582,  20DMA 2579, 50DMA 2549, 100DMA 2502, 200DMA 2442

These are key Fib Levels: 2549, 2557, 2592, 2607

These are key primary and intermediate levels: 2597(intermediate minor) 2579 (intermediate minor), 2445(intermediate minor), 2490(intermediate minor)

Here is today's market look at the S&P 500 for Tuesday, November 21, 2017

With only the cyan MSP marking a low at timing through the overnight there is potential a good potential for a reversal around mid day timing and weakness all the way through the afternoon session.  Economic data today consists of the Chicago Fed National Activity Index at 8:30AMEST, the Feds Redbook at 8:55AMEST, and Existing Home Sales at 10:00AMEST.

MSP

Yesterday we found rising support at the close and sustained trade on a retest of the moving averages which has let to the overnight follow through which looks set to open well over the declining resistance level.  Price action over this area will be important because a failure to maintain above the resistance has a good probability of retracing the entire rally and head towards the 50DMA.  The key word is 'failure' though.  Sustained trade above resistance should be considered basing for a new rally leg.  Good luck today!

Primary and Intermediate Levels

S&P500 Expert Lounge Update – October 27, 2017

Good morning everyone,

These are key timing for today:  9:30AMEST, 1:30PMEST

These are key MA levels:  5EMA 2565, 10DMA 2561,  20DMA 2549, 50DMA 2503, 100DMA 2476, 200DMA 2415

These are key Fib Levels: 2578, 2568, 2547, 2527

These are key primary and intermediate levels: 2547 (intermediate minor), 2491(intermediate minor), 2457(intermediate minor), 2440(intermediate minor), 2424(intermediate minor), 2410(intermediate minor), 2404 (intermediate minor), 2384(intermediate)

Here is today's market look at the S&P 500 for Friday, October 27, 2017

Happy Friday everyone!  With GDP in the rear view mirror, data is light the rest of the day with only Consumer Sentiment at 10:00AMEST, and the Baker Hughes Rig Count at 1:00PMEST.  MSP looks to be overall choppy today with not much of an advantage to be given to either side.

MSP

We look set to rally above resistance that stopped yesterday's rally, it will be important for buyers to maintain above and ideally close the day above the 5DEMA to signal a new shift in short near term momentum.  We also have a new intermediate pivot level at 2547 marking a significant point for sellers to shoot for.  Good luck today and have a great weekend!

Primary and Intermediate Level

S&P500 Expert Lounge Update – October 20, 2017

Good morning everyone,

These are key timing for today:  10:30AMEST, 1:00PMEST

These are key MA levels:  5EMA 2558, 10DMA 2554,  20DMA 2536, 50DMA 2294, 100DMA 2470, 200DMA 2409

These are key Fib Levels: 2564, 2536

These are key primary and intermediate levels: 2491(intermediate minor), 2457(intermediate minor), 2440(intermediate minor), 2424(intermediate minor), 2410(intermediate minor), 2404 (intermediate minor), 2384(intermediate)

Here is today's market look at the S&P 500 for Friday, October 20, 2017

A wild ride for yesterday's regular trading hours session brought us back to roughly flat on the day.  Data is light today with only Existing Home Sales at 10:00AMEST and the Baker Hughes Rig Count at 1:00PMEST.  While our rising wedge patter produced a rather dramatic opening drop yesterday, it was quickly bought back up just prior to the outlined rising support and has continued through the overnight with new all time highs in the futures market.  Barring some selling in the premarket, we look set to open back up towards broadening resistance and new all time highs in the cash market as well.  Given the duration of the overall run, you'll likely see selling present itself on any contact of the broadening resistance from here on until a more substantial breakdown ensues.  Good luck today and have a great weekend!

Primary and Intermediate Level Detail

 

S&P500 Expert Lounge Update – October 16, 2017

Good morning everyone,

These are key timing for today:  2:30PMEST

These are key MA levels:  5EMA 2551, 10DMA 2545,  20DMA 2525, 50DMA 2287, 100DMA 2465, 200DMA 2403

These are key Fib Levels: 2566, 2530

These are key primary and intermediate levels: 2491(intermediate minor), 2457(intermediate minor), 2440(intermediate minor), 2424(intermediate minor), 2410(intermediate minor), 2404 (intermediate minor), 2384(intermediate)

Here is today's market look at the S&P 500 for Monday, October 16, 2017.

Overnight price action has tracked the cyan MSP well so a rather flat day overall is to be expected.  Data is extremely light today with only the Empire State Manufacturing Survey at 8:30AMEST, and the Treasury Budget at 2:ooPMEST.

MSP

Price still continues to defy gravity and the 5DEMA but has slowed its torrent ascent as buyer fatigue sets in.  Little has changed over the past few days with little to expect from sellers until the 5DEMA is closed below, at which point a trip to the low 2540's at the very least is to be expected.  Good luck today and have a great week!

Primary and Intermediate Levels

S&P500 Expert Lounge Update – September 20, 2017

Good morning everyone,

These are key timing for today:

These are key MA levels:  5EMA 2501, 10DMA 2488,  20DMA 2470, 50DMA 2265, 100DMA 2440, 200DMA 2378

These are key Fib Levels: 2509

These are key primary and intermediate levels: 2491(intermediate minor), 2457(intermediate minor), 2440(intermediate minor), 2424(intermediate minor), 2410(intermediate minor), 2404 (intermediate minor), 2384(intermediate)

Here is today's market look at the S&P 500 for Wednesday, September 20, 2017

 

With the FED press conference after the meeting announcement this afternoon, there isn't much to be expected from the market until then.  2491 and rising support is still there for sellers to aim for and nothing overhead with the exception of broadening resistance and round number psychology.  Data we have Existing Home Sales at 10:00AMEST, EIA Petroleum Status Report at 10:30AMEST, FOMC Meeting Announcement at 2:00PMEST, and Fed Chair Press Conference at 2:30PMEST.  Good luck today!

Primary and Intermediate Levels Detail