Good morning everyone,
These are key MA levels: 5EMA 2682, 10DMA 2659, 20DMA 2644, 50DMA 2687, 100DMA 2701, 200DMA 2603
These are key Fib Levels: 2905, 2777, 2749
These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2765(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)
Here is today's market look at the S&P 500 for Tuesday, April 24, 2018
Data is front end loaded on the day with the Core Logic Case Shiller Home Price Index and FHFA House Price Index at 9:00AMEST, New Home Sales, Consumer Confidence, Richmond Fed Manufacturing, and State Street Investor Confidence Index at 10:00AMEST. The technical picture had us break the rising support modestly yesterday while still maintaining the 20DMA. Below the 5DEMA and with an intermediate pivot marker in place sellers have the advantage overall and areas of interest reside in the 2700 region with declining resistance and the 100DMA and 2650 with the intermediate minor level and 20DMA. Sustaining trade above the range of 2660 and 2580 should be considered a basing process for buyers to solidify a new push higher. A failure back into this region would easily cause a cascading effect down to the primary minor level and 200DMA at 2600. Good luck today!