S&P500 Expert Lounge Update – April 27, 2018

Good morning everyone,

These are key MA levels:  5EMA 2656, 10DMA 2672,  20DMA 2652, 50DMA 2688, 100DMA 2704, 200DMA 2610

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 Friday, April 27, 2018

Happy Friday Everyone!  Data this morning is respectable with the all important GDP and Employment Cost Index at 8:30AMEST, Consumer Sentiment at 10:00AMEST, Baker Hughes Rig Count at 1:00PMEST, and Farm Prices at 3:00PMEST.  The technical picture is still showing buyers in control as of the close yesterday as we remain above the 5DEMA and absent of a intermediate pivot marker at the most recent high.  Rising support resides in the 2660 region and just below that sellers will have to contend with the 20DMA and primary minor level at 2650.  If buyers can clear the 10DMA which caused a severe reaction during yesterdays session, they have a clear shot at the 2690's and the 50DMA, declining resistance, and the intermediate minor level at 2697.  Between those two area's, mind you P's and Q's and as always, have a great weekend!

Primary and Intermediate Levels Detail

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