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S&P500 Expert Lounge Update – August 15, 2017

Good morning everyone,

These are key timing for today: 9:30AMEST, 12:15PMEST, 2:00PMEST

These are key MA levels:  5EMA 2458, 10DMA 2467,  20DMA 2470, 50DMA 2248, 100DMA 2413, 200DMA 2340

These are key Fib Levels: 2415, 2452

These are key primary and intermediate levels: 2459(intermediate minor), 2440(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 15,  2017

Overnight price action has left a high degree of ambiguity relative to the MSP of preference so it seems the best way to approach this is to wait for the next timing at 9:30AMEST to gather some more evidence for the regular trading hours potential path.

MSP

MSP

Yesterday saw buyers close back above the 5DEMA in what appears to be a consolitory fashion, but to claim any real validity, sustained trade above the 10 and 20DMA's would be preferrable.  A retest of either the intermediate level just below at 2459, or the 50DEMA would also be highly probable after such a sharp rally.  With only an intermediate pivot marker at the lows, buyers have the advantage until a new one presents itself either here or at higher prices.  Good luck today!

Primary and Intermediate Levels Detail

S&P500 Expert Lounge Update – August 14, 2017

Good morning everyone,

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

These are key MA levels:  5EMA 2461, 10DMA 2468,  20DMA 2469, 50DMA 2248, 100DMA 2411, 200DMA 2338

These are key Fib Levels: 2489, 2459

These are key primary and intermediate levels: 2459(intermediate minor), 2440(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 Monday, August 14, 2017

Current MSP has been tracking white through the overnight which would suggest morning weakness till the afternoon portion of the session from the regular trading hours open.  Economic outlook for this morning involves Business Inventories and Housing Market Index at 10:00AMEST.

MSP

The technical picture is going to have us open up above the 50DMA at present and near declining resistance, so some sort of sharp reaction downward at the open would not be surprising.  Above that we'll have the lower 2460's area providing more resistance with a stack of DMA's and an intermediate minor level.  Further down, the 2420 zone will provide support with the 100DMA, rising support and another intermediate minor levels.  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 7, 2017

Good morning everyone,

These are key timing for today: 12:00PMEST

These are key MA levels:  5EMA 2422, 10DMA 2428,  20DMA 2432, 50DMA 2413, 100DMA 2386, 200DMA 2298

These are key Fib Levels:  2442, 2418, 2407, 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 Friday, July 7, 2017

MSP hasn't had much of a clue to work with as price has been compressed in the overnight.  The 8:30AMEST spike on the Employment Release would lend confidence to the notion of the magenta MSP, so we could be in for a ride starting at market open.  There are two other items of interest today with the EIA Natural Gas Report at 10:30AMEST, and the Baker Hughes Rig Count at 1:00PMEST.

MSP

The technical picture had us break below the 50DMA and rising support connecting the two most recent intermediate pivot marker lows.  The current premarket rally will be important to see where it opens.  If it gaps above the 50DMA and back above rising support and over declining resistance and can maintain, it has a clear shot at least to the next intermediate levels at 2323 if not to the next declining resistance and moving average stack in the upper 2420 to lower 2430 area.  Again, below the intermediate 2403 level and things get slippery all the way down to 2383.  Good luck today and have a great weekend!

Primary and Intermediate Levels

 

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

S&P500 Expert Lounge Update – May 8, 2017

Good morning everyone,

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

These are key MA levels:  5EMA 2391, 10DMA 2389,  20DMA 2368, 50DMA 2366, 100DMA 2328, 200DMA 2248

These are key Fib Levels:  2418, 2402, 2389, 2387

These are key primary and intermediate: 2401(intermediate minor), 2379(intermediate minor), 2373 (intermediate minor), 2355(intermediate minor), 2255(intermediate minor), 2322(intermediate minor), 2255(intermediate minor)

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

The overnight price action appears to be favoring the cyan MSP at present, but keep an eye on the regular trading hours open where timing causes very dramatic outcomes between them.  Data is very light today with Labor Market Conditions at 10:00AMEST and TD Ameritrade IMX at 12:30PMEST.

MSP

As noted on the board Friday, the sustained trade above the declining resistance resulted into a buying spree going into the close.  The overnight saw a spike even higher but has since returned to roughly the closing levels of Friday's trading session.  Above the all time highs and greater than 2410 is the most likely target.  The broken declining resistance in conjunction with the stack of 5DEMA, and 10DMA should provide support for buyers on any decline.  Good luck today!

Primary and Intermediate Levels

 

MSP

Primary and Intermediate Levels

S&P500 Expert Lounge Update – May 4, 2017

Good morning everyone,

These are key timing for today: 8:30AMEST, 10:30AMEST, 2:30PMEST

These are key MA levels:  5EMA 2387, 10DMA 2381,  20DMA 2364, 50DMA 2364, 100DMA 2325, 200DMA 2245

These are key Fib Levels:  2402, 2196, 2379

These are key primary and intermediate: 2401(intermediate minor), 2379(intermediate minor), 2373 (intermediate minor), 2355(intermediate minor), 2255(intermediate minor), 2322(intermediate minor), 2255(intermediate minor)

Here is today's market look at the S&P 500 for Thursday, May 4, 2017

Present price action is favoring the magenta MSP which would indicate weakness from the 8:30AMEST timing through the opening bell and then a positive bias the remainder of the day.  Data is abundant with International Trade, Jobless Claims, Productivity and Costs, and the Gallup Good Jobs Rate at 8:30AMEST, Bloomberg Consumer Comfort Index at 9:45AMEST, Factory Orders at 10:00AMEST, and lastly the EIA Natural Gas Report at 10:30AMEST.

MSP

As surmised by yesterday's update, the break of near term rising support produced a break down towards the lower intermediate minor level of 2373, but was arrested by the 10DMA.  Current price is set to open near the declining resistance level just overhead which will serve as a warning for sellers if trade is sustained above that and/or successfully backtested on a break above.  The long standing 2379 fib level was nearly tested at yesterday's lows which serves two roles going forward.  Either the failure to test the level translates to an extremely strong move higher as the correction was truncated, or the correction still requires more time and price depreciation.  Good luck today and keep an eye on premarket price action with timing and the data dump at 8:30AMEST.

Primary and Intermediate Levels

S&P500 Expert Lounge Update – May 3, 2017

Good morning everyone,

These are key timing for today: N/A

These are key MA levels:  5EMA 2386, 10DMA 2378,  20DMA 2362, 50DMA 2364, 100DMA 2323, 200DMA 2244

These are key Fib Levels:  2402, 2196, 2379

These are key primary and intermediate: 2401(intermediate minor), 2379(intermediate minor), 2373 (intermediate minor), 2355(intermediate minor), 2255(intermediate minor), 2322(intermediate minor), 2255(intermediate minor)

Here is today's market look at the S&P 500 for Wednesday, May 3, 2017

We have a reasonable amount of economic data to hit the tape today with the ADP Employment Report at 8:15AMEST, Gallup U.S. Job Creation Index at 8:30AMEST, PMI Services Index at 9:45AMEST, ISM Non Manufacturing Index at 10:00AMEST, EIA Petroleum Status Report 10:30AMEST, and lastly the all important FOMC Meeting Announcement at 2:00PMEST.  The technical picture saw us test and bounce off of both the broadening and rising support near the close of business yesterday and close above the 5DEMA.  A break of rising support will likely see us go down and visit the 10DMA and the 2373 intermediate minor level before finding more significant support.  Until the rising trendline is broken and trade sustains below though, buyers have control.  Good luck today and be careful around 2:00PMEST if you have any open positions.

Primary and Intermediate Levels