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!