Good morning everyone,
These are key MA levels: 5EMA 2675, 10DMA 2672, 20DMA 2648, 50DMA 2688, 100DMA 2704, 200DMA 2607
These are key Fib Levels: 2905, 2777, 2660, 2587
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 Wednesday, April 25, 2018
The only data point for the market to contend with is the EIA Petroleum Status Report at 10:30AMEST. The technical picture saw a weak day yesterday with a run back down towards the 200DMA. We've established a new intermediate pivot marker at yesterday's lows which should give sellers pause and serves as a warning that a new rally may be at hand soon. The range still remains intact and there is no indication that this decline is at present any different then the previous ones. We are currently in a void of levels so it would be expected that we should find one of the lower intermediate or primary levels at the 2600 area. Declining resistance near 2640 will be the target for buyers should they manage to get a foothold in the coming sessions. Good luck today!