Good morning everyone,
These are key timing for today: 2:00PMEST
These are key MA levels: 5EMA 2183, 10DMA 2178, 20DMA 2174, 50DMA 2130
These are key Fib Levels: 2191, 2171
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, August 16, 2016
HAL took on a position at close yesterday from the short side which also plays perfectly into the long standing 2191 technical target that was achieved yesterday morning. We have a healthy portion of morning data to hit the tape with Consumer Price Index and Housing Starts at 8:30AMEST, Redbook at 8:55AMEST, Industrial Production at 9:15AMEST, and E-Commerce Retail Sales at 10:00AMEST. While we are still six trading days away from the MSP intermediate term turn date, we are within the one week window which needs to be respected if still in long positions and especially now that HAL has committed to a trade from the short side. Good luck today!