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.