S&P500 Expert Lounge Update –August 30, 2016

Good morning everyone,

These are key timing for today: 9:30AMEST, 2:00PMEST

These are key MA levels:  5EMA 2176, 10DMA 2180, 20DMA 2179, 50DMA 2149

These are key Fib Levels:  2172, 2169, 2156

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 30, 2016

HAL and RVS went flat at yesterday's close which eliminates the positive bias that was in place as a result of the systems trades.  Meandering price action in the overnight currently has us at a near flat open.  We have a few data points to contend with today with the Redbook at 8:55AMEST, the Case-Shiller Home Price Index at 9:00AMEST, and the Consumer Confidence and State Street Investor Confidence at 10:00AMEST.  Economic releases bracket market timing at the opening of regular trading hours so be on the mindful of initial choppiness in any current open positions.  With a generation of a 3rd End on the 480 coupled with a new resistance cycle on the 288 yesterday's highs become a crucial pivot going forward especially taking into consideration the bearish LRE's that have triggered on multiple time frames in this general vicinity.  Good luck today and trade safe.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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