S&P500 Expert Lounge Update –August 17, 2016

Good morning everyone,

These are key timing for today: 9:00AMEST, 12:30PMEST, 3:00PMEST

These are key MA levels:  5EMA 2183, 10DMA 2180, 20DMA 2174, 50DMA 2131

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 Wednesday, August 17,  2016

HAL remains short and has taken off 11% of its total position as of this morning.  Overnight action made an initial drop but is back to flat as we near regular trading hours.  A couple of morning economic data points with Atlanta Fed Business Inflation Expectations at 10:00AMEST, and EIA Petroleum Status at 10:30AMEST.  Although it is just a recap, the Fed Minutes at 2:00PMEST will be the one to be mindful of as some have a tendency to interpret these different than the original announcement and can cause a rather dramatic market reaction on occasion.  The 288 chart has a support cycle at 2175ES which will be the line for buyers to hold.  Good luck today!

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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