Good morning everyone,
These are key MA levels: 5EMA 2845, 10DMA 2843, 20DMA 2837, 50DMA 2795, 100DMA 2742, 200DMA 2718
These are key Fib Levels: 2929, 2829, 2821
Here is today's market look at the S&P 500 for Wednesday, August 22, 2018
There are a few items today for the tape to wrestle with as we have Existing Home Sales at 10:00AMEST, the EIA Petroleum Status Report at 10:30AMEST, and the FOMC Minutes at 2:00PMEST. The technical side of the house saw a new intraday all time high get put in place as the larger structure carves out a broadening formation via the intermediate pivots. Should sellers be able to get some momentum going today their first target will be the moving average stack, rising support and the intermediate minor level at 2848. That area will also be where buyers are going to look to build a new base in an attempt to begin to set fourth on a string of new closing all time highs. Good luck today!