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S&P500 Expert Lounge Update –October 27, 2016

Good morning everyone,

These are key timing for today: 1:00PMEST

These are key MA levels:  5EMA 2144, 10DMA 2140,  20DMA 2146,  50DMA 2156, 100DMA 2145

These are key Fib Levels: 2148, 2156

These are key primary and intermediate levels:  2176(intermediate minor), 2160(intermediate minor), 2148(intermediate minor), 2131(intermediate minor), 2126(primary major), 2115(intermediate major)

Here is today's market look at the S&P 500 for Thursday, October 27, 2016

Present price action is pointing to magenta as the odds on favorite so we should be in store for a trend day.  Data wise we have the Bloomberg Consumer Comfort Index at 9:45AMEST, Pending Home Sales at 10:00AMEST, EIA Natural Gas Report at 10:30AMEST, and the Kansas City Fed Manufacturing Index at 11:00AMEST.

2016-10-27_4-46-13-intradayMSP

MSP

From a technical standpoint we will open above the intermediate minor level at 2145 which opens the door for a clear shot to the next intermediate minor level at 2157 level and the 50DMA.  Above that sellers need to be careful because a huge rift opens up to the next intermediate major level 2177 which is only divided by declining resistance that has sustained price since the all time highs.  Good luck today and trade safe.

Primary and Intermediate Levels

Primary and Intermediate Levels

S&P500 Expert Lounge Update –October 20, 2016

Good morning everyone,

These are key timing for today:  10:00AMEST, 3:00PMEST

These are key MA levels:  5EMA 2137, 10DMA 2141,  20DMA 2150,  50DMA 2161, 100DMA 2143

These are key Fib Levels:  2159, 2139, 2120

These are key primary and intermediate levels:  2176(intermediate minor), 2160(intermediate minor), 2148(intermediate minor), 2131(intermediate minor), 2125(primary major), 2115(intermediate major)

Here is today's market look at the S&P 500 for Thursday, October 20, 2016

10:00AMEST is going to be key for MSP as four of the five point down from that timeframe.  An upward move after likely progresses rather relentlessly for the remainder of the day.  8:30AMEST has Jobless Claims and Philadelphia Fed Business Survey releases.  9:45AMEST is the Bloomberg Consumer Comfort Index.  10:00AMEST has Leading Indicators and Existing Home Sales.  Lastly at 10:30AMEST is the EIA Natural Gas Report.  5 and 15 min cycles have dissipated and will either refresh or roll over going into the timing this morning as well.

MSP

MSP

Buyers have managed to close the market above the 100DMA for the first time in a number of days and the 5DEMA supporting price says they have momentum in their favor for the time being.  Levels are thin till at least the intermediate minor at 2160 so a swift move up through this region would not be surprising.  Good luck today!

Primary and Intermediate Levels

Primary and Intermediate Levels

S&P500 Expert Lounge Update –September 14, 2016

Good morning everyone,

These are key timing for today:  12:30PMEST

These are key MA levels:  5EMA 2145, 10DMA 2153, 20DMA 2170,  50DMA 2168, 100DMA 2123

These are key Fib Levels:  2157, 2146, 2113, 2082

These are key primary and intermediate levels:   2155 (intermediate minor), 2131(intermediate minor), 2126(primary major)

Here is today's market look at the S&P 500 for Wednesday, September 14,  2016:

A quiet overnight session is currently leading into weakness starting from the premarket session with the white, red, and magenta MSP's all in the realm of reason, so be on the alert at mid day.  HAL and RVS still remain in their long placemarker positions which gives a marginally upward bias, but these can be closed at anytime so it is best not to overweight them.  It is going to be another exceptionally quiet day on the economic data front with only EIA Petroleum Status Report coming out at 10:30AMEST.  Be mindful of the 60 and 135min cycle charts as they have a nice range defined with current Bearish Retraces and Ends in place.  Good luck today.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

S&P500 Expert Lounge Update –September 13, 2016

Good morning everyone,

These are key timing for today:  9:30AMEST, 3:00PMEST

These are key MA levels:  5EMA 2158, 10DMA 2163, 20DMA 2173,  50DMA 2167, 100DMA 2122

These are key Fib Levels:  2142, 2135

These are key primary and intermediate levels:  2176(intermediate minor), 2155 (intermediate minor), 2131(intermediate minor), 2126(primary major)

Here is today's market look at the S&P 500 for Tuesday, September 13, 2016:

Consolidation looks set to continue through the day session from the overnight with the magenta and cyan MSP best representing the price action up to the time of this writing.  Price action at the open should be the deciding factor as to which path is most probable, so be wary of the 9:30AMEST timing window.  Another quiet day with regards to economic data with only the Redbook release at 8:55AMEST.

MSP

MSP

The historical extreme's chart worked wonders again as we reentered the void and raced all the way back up to the newly formed levels up near the all time highs where it found resistance again.  Please be cautious with positions in the empty zone because as we've seen over the past two days, price has the ability to traverse this area in a very relentless fashion.

MSP

Historical Extremes

As noted yesterday, the Primary Major level was overshot before catching a massive bid off the 100DMA.  This overshoot serves as a warning that price has a good chance of retesting levels below there in the not too distant future.  We are still in the early stages of the seasonally weak period which adds weight to the notion of potentially lower prices.  Good luck today and keep an eye on market open timing.

Primary and Intermediate Levels

Primary and Intermediate Levels

 

S&P500 Expert Lounge Update –September 12, 2016

Good morning everyone,

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

These are key MA levels:  5EMA 2158,  50DMA 2163, 100DMA 2121

These are key Fib Levels:  2127, 2139

These are key primary and intermediate levels:  2131(intermediate minor), 2126(primary major), 2115(intermediate major)

Here is today's market look at the S&P 500 for Monday, September 12, 2016:

The market continued its waterfall in the overnight session but with the substantial bounce this morning it looks to recoup a good deal of the earlier losses.  Cyan seems to be the odds on favorite at present with the early morning strength, but keep an eye on the gap and tick tools to see what makes sense at the open of regular trading hours and the coinciding timing window.  Price action will be the primary focus as there are no economic releases to speak of, but there are a few Fed heads to speak.

MSP

MSP

How price behaves around the primary major level will be important to note because it will give clues to what kind of price action we should expect going forward.  A solid rebound from that area will likely produce a more pronounced bounce, but an overshoot to the downside should be taken as a warning that areas below that level will want to be tested.

Primary and Intermediate Levels

Primary and Intermediate Levels

As noted on the historical extremes chart last week during banter in the expert lounge, there was a substantial void between newly formed extremes and the existing.  As soon as selling began, this gap turned into a massive vacuum and traversed the gap very quickly.  Now that we've reached clusters of historical extremes again it is most probable that price will become choppy again.  Keep a close eye on the tools and timing into market open to get an idea of what is in store for the session.  Good luck today!

Historical Extremes

Historical Extremes

S&P500 Expert Lounge Update –September 9, 2016

Good morning everyone,

These are key timing for today:  10:45AMEST, 1:00PMEST

These are key MA levels:  5EMA 2179, 10DMA 2177, 20DMA 2179, 50DMA 2166

These are key Fib Levels:  2171, 2168, 2162

These are key primary and intermediate levels:  2180(minor), 2155(minor), 2148(minor)

Here is today's market look at the S&P 500 for Friday, September 9, 2016:

Happy Friday!  RVS tacked on a 1CPM long position at close of business yesterday so it will be interesting to see what transpires with today's session as weakness asserted itself in the overnight.  MSP is looking to bottom out as early as 10:45AMEST, but could potentially run a little longer into the last timing point of the day at 1:00PMEST.  There are a confluence of technical items that show 2162 as an area of interest with the 50DMA, rising TL, and a Fibonacci extension target.  Good luck today and we hope everyone has a phenomenal weekend!

2016-09-09_8-14-12-intraayMSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

S&P500 Expert Lounge Update –September 8, 2016

Good morning everyone,

These are key timing for today: 11:30AMEST, 1:15PMEST

These are key MA levels:  5EMA 2179, 10DMA 2176, 20DMA 2180, 50DMA 2163

These are key Fib Levels:  2189, 2192

These are key primary and intermediate levels:  2180(minor), 2155(minor), 2148(minor)

Here is today's market look at the S&P 500 for Thursday, September 8, 2016:

More chop in the overnight saw us make new pivot highs and reverse directly.  It appears that the regular trading hours should also visit that pivot high.  MSP wise, all but the cyan projection are still valid so it will be important to see what transpires at the 11:30AMEST timing window.  Calendar wise we have Jobless claims at 8:30AMEST, Consumer Comfort Index at 9:45AMEST, EIA Natural Gas Report at 10:00AMEST, EIA Status Report at 11:00AMEST, and Consumer Credit at 3:00PMEST.  Remember also that contract roll to the December ES contract takes place today.  Good luck!

 

MSP

MSP

mSPXLevelsDetail

Primary and Intermediate Levels

Primary and Intermediate Levels

 

S&P500 Expert Lounge Update –September 7, 2016

Good morning everyone,

These are key timing for today: 9:30AMEST, 1:00PMEST

These are key MA levels:  5EMA 2179, 10DMA 2176, 20DMA 2180, 50DMA 2163

These are key Fib Levels:  2189, 2192

These are key primary and intermediate levels:  2180(minor), 2155(minor), 2148(minor)

Here is today's market look at the S&P 500 for Wednesday, September 7, 2016:

Marginal weakness in the overnight session hints at red open.  Economic Data wise we're looking at the Redbook at 8:55AMEST, and the PMI Services index at 9:45AMEST which coincides with MSP intraday timing point [2].  We are currently backtesting an End on the 60min cycles which should provide support near term and overhead we have resistance on the 480 chart at yesterday's highs that will be the target for buyers to take control of.   Good luck today!

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

S&P500 Expert Lounge Update –September 6, 2016

Good morning everyone,

These are key timing for today: 11:00AMEST, 1:30PMEST

These are key MA levels:  5EMA 2175, 10DMA 2175, 20DMA 2179, 50DMA 2161

These are key Fib Levels:  2169, 2167, 2155

These are key primary and intermediate levels:  2180(minor), 2155(minor), 2148(minor)

Here is today's market look at the S&P 500 for Tuesday, September 6, 2016

Welcome to the official opening day of 'trading season'.  9:30AMEST brings us PMI Services Index and 10:00AMEST we have the ISM Non Manufacturing Index.  Overnight price action including the Monday holiday session has meandered mostly sideways and currently has us opening essentially flat.  15min cycles has already put in a very shallow End off a Bearish Retrace at the most recent lows and the 60min cycles put in an End off a bullish retrace off the overnight highs.  Those will key to defining direction in the near term.  Good luck today and welcome back from the extended break.

 

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

 

S&P500 Expert Lounge Update –September 2, 2016

Good morning everyone,

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

These are key MA levels:  5EMA 2173, 10DMA 2176, 20DMA 2179, 50DMA 2155

These are key Fib Levels:  2155, 2172, 2177

These are key primary and intermediate levels:  2180(minor), 2155(minor), 2148(minor)

Here is today's market look at the S&P 500 for Friday, September 2, 2016

Happy NFP day everyone.  You'd of thought it was a holiday by the way tradingview had it splashed across the top of their page this morning.  Anyway, on to the nuts and bolts.  An unconfirmed support cycle is currently in the process of forming on the 480 chart at yesterday's lows.  That will define our support level of greatest importance near term.  Overall price action in the overnight was marginally positive but with the Employment Situation coming in at 8:30AMEST along with International Trade, anything is possible with regards to where the cash market opens.  Factory Orders hit the tape at 10:00AMEST and the rest of the day is relatively quiet going into the holiday weekend barring an 'event'.  Good luck today and from everyone here at MCM we hope you have a safe and happy holiday weekend.  See you in the lounge.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels