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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

S&P500 Expert Lounge Update – September 13 , 2017

Good morning everyone,

These are key timing for today: n/a

These are key MA levels:  5EMA 2475, 10DMA 2468,  20DMA 2456, 50DMA 2257, 100DMA 2434, 200DMA 2370

These are key Fib Levels: 2497, 2484, 2477

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 13, 2017

Today is light in the data department with the EIA Petroleum Status Report at 10:30AMEST, and the Treasury Budget at 2:00PMEST.  With the systems short the current advantage is to the sellers, however, there have been two successful support outcomes from backtesting the 2491 intermediate minor level which indicates the market is still quite resilient.  We still have a good deal of space below if the market decides a pullback is in order and likely wouldn't catch rising support and moving averages till somewhere around 2477.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – September 6 , 2017

Good morning everyone,

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

These are key MA levels:  5EMA 2461, 10DMA 2453,  20DMA 2452, 50DMA 2253, 100DMA 2427, 200DMA 2363

These are key Fib Levels: 2489, 2466, 2401, 2389

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 6 2017

With current price action favoring the magenta MSP thus far we look set to be in for a net flat day with weakness in the morning and strength through the latter portion of the afternoon.  Data wise we have the Fed's Redbook at 8:55AMEST, PMI Services Index at 9:45AMEST, ISM Non-Manufacturing Index at 10:00AMEST and the Fed's Beige Book at 2:00PMEST.

MSP

The technical picture currently has us working our way through the early stages of a compression pattern with a wide range for price to race through.  Sustained trade above the intermediate minor level of 2457 most likely leads to another run at declining resistance at the very least.  Below, the 2440 area should provide near term support on a break of the nearest rising support.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – August 29, 2017

Good morning everyone,

These are key timing for today: 9:30AMEST, 2:00PMEST

These are key MA levels:  5EMA 2444, 10DMA 2443,  20DMA 2455, 50DMA 2250, 100DMA 2421, 200DMA 2356

These are key Fib Levels: 2454, 2447, 2401, 2389

These are key primary and intermediate levels: 2491(intermediate minor), 2459(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 Tuesday, August 29, 2017

The overnight session thanks to a little help from Mr. Kim while volatile has been tracking the magenta and white MSP the best which would lend itself to a flat to down overall regular trading hours session.  Data wise we have the Feds Redbook at 8:55AMEST, Case Shiller Home Price Index at 9:00AMEST, and lastly a double dose of confidence with both the Consumer and Investor Confidence Surveys coming in at 10:00AMEST.

MSP

With the pending regular trading hours gap down, the 100DMA and intermediate minor level of 2424 is a solid area of interest.  Sustained trade below that level and things get slippery with very little in the way of support levels or technical help until the psychological level at 2400 and then the intermediate level at 2383.  Buyers have their job cut out with multiple declining resistance levels and a pile of moving averages bearing down on any rally attempts, but their first target to reclaim would be 2440.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – August 8, 2017

Good morning everyone,

These are key timing for today: n/a

These are key MA levels:  5EMA 2474, 10DMA 2474,  20DMA 2464, 50DMA 2243, 100DMA 2407, 200DMA 2330

These are key Fib Levels: 2489, 2459

These are key primary and intermediate levels: 2454(intermediate minor), 2424(intermediate minor), 2410(intermediate minor), 2404 (intermediate minor), 2384(intermediate), 2374(intermediate minor), 2355(intermediate minor), 2344(intermediate minor)

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

Yesterday's price action had us push up out of the compression pattern and we are currently back up against the all time highs.  Sustained trade above the compression pattern should be considered nothing more than a consolidation looking to push higher back towards the broadening resistance in the 2480/90 region.  Economic data is relatively light with only the Redbook at 8:55AMEST and JOLTS at 10:00AMEST.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – July 5, 2017

Good morning everyone,

These are key timing for today: N/A

These are key MA levels:  5EMA 2428, 10DMA 2431,  20DMA 2433, 50DMA 2411, 100DMA 2384, 200DMA 2295

These are key Fib Levels:  2428, 2424, 2410, 2393

These are key primary and intermediate levels: 2454(intermediate minor), 2424(intermediate minor), 2410(intermediate minor), 2404 (intermediate minor), 2384(intermediate), 2374(intermediate minor), 2355(intermediate minor), 2344(intermediate minor)

Here is today's market look at the S&P 500 for Wednesday, July 5, 2017

Happy post holiday everyone!  Data is looking rather robust in quantity today with MBA Mortgage Applications at 7:00AMEST, US Job Creation Index at 8:30AMEST, Feds Redbook at 8:55AMEST, Factory Orders at 10:00AMEST, Gallup US ECI at 2:00PMEST, and the all important FOMC Minutes also at 2:00PMEST.  The shortened holiday trading saw us fail to maintain the 5DEMA, 10DMA, and 20DMA stack and sold off rather abruptly into the close.  With the systems flat and the pivot marker at the most recent intermediate swing low, buyers currently old the advantage.  Their first objective is going to need to be regaining the moving averages and sustaining trade above the first declining resistance.  Intermediate levels are widely spaced here so don't be surprised to see some serious movement to find either the upper or lower near term levels.  Good luck today!

Primary and Intermediate Levels

S&P500 Expert Lounge Update – June 26, 2017

Good morning everyone,

These are key timing for today: 9:30AMEST, 1:15PMEST

These are key MA levels:  5EMA 2439, 10DMA 2437,  20DMA 2432, 50DMA 2401, 100DMA 2376, 200DMA 2286

These are key Fib Levels:  2459, 2429, 2410, 2399

These are key primary and intermediate levels: 2410(intermediate minor), 2404(intermediate minor), 2383(intermediate), 2374 (intermediate minor), 2355(intermediate minor), 2345(intermediate minor), 2326(intermediate minor), 2255(intermediate minor)

Here is today's market look at the S&P 500 for Monday, June 26, 2017.

The overnight action has tracked both the red and magenta MSPs exceptionally well, and both point to weakness through the duration of the session which should be the theme for today.  Data is light on our first trading day of the week with only the Dallas Fed Manufacturing Survey at 10:30AMEST.

MSP

The technical side of things had us close right on the 5DEMA Friday and currently is set to gap above.  Sellers are going to need to show up in force to push price below the stack of 5DEMA, 10DMA, and 20DMA along with rising support.  The only thing that resides above currently is the Primary and Intermediate pivot markers at the all time high.  A sustained break above the current levels could lead to a runaway rally.  Good luck today!

Primary and Intermediate Levels

S&P500 Expert Lounge Update – June 2, 2017

Good morning everyone,

These are key timing for today: 11:00AMEST, 2:30PMEST

These are key MA levels:  5EMA 2420, 10DMA 2413,  20DMA 2400, 50DMA 2378, 100DMA 2354, 200DMA 2269

These are key Fib Levels:  2459, 2429, 2411, 2400

These are key primary and intermediate levels: 2410(intermediate minor), 2404(intermediate minor), 2383(intermediate), 2374 (intermediate minor), 2355(intermediate minor), 2345(intermediate minor), 2326(intermediate minor), 2255(intermediate minor)

Here is today's market look at the S&P 500 for Friday, June 2, 2017.

Happy Friday everyone!  With current price action odds favor a weak to flat day via the white MSP.  Data is light today with only the Baker Hughes Rig Count remaining at 1:00PMEST.

MSP

The technical picture took a turn in the favor of buyers yet again yesterday with a breakout over the broadening resistance which now resides in the 2425 area.  Basing on this area on a pullback is a clear warning that higher prices are coming and most likely in a runaway fashion.  On the flip side, a break of the rising support sets up a high probability of a retest of the next nearest intermediate minor level at 2410.  Good luck today and have a great weekend!

Primary and Intermediate Levels