Good morning everyone,
These are key timing for today: 11:00AMEST, 1:15PMEST
These are key MA levels: 5EMA 2270, 10DMA 2261, 20DMA 2262, 50DMA 2211, 100DMA 2183, 200DMA 2144
These are key Fib Levels: 2162, 2152, 2175
These are key primary and intermediate levels: 2278(intermediate minor), 2254(intermediate minor), 2214(intermediate minor), 2189(intermediate minor)
Here is today's market look at the S&P 500 for Wednesday, January 11, 2016
Price action in the overnight has been very choppy, so a preferred MSP has been very difficult to discern. Timing at 11:00AMEST will be key in the vetting process to see what type of bias will remain for the trading session. Another light day on the data front with Atlanta Fed Business Inflation Expectations at 10:00AMEST, and EIA Petroleum Status Report at 10:30AMEST.
The technical side of the house still has us bouncing between the stacked moving averages, 5DEMA, 10DMA, 20DMA. Basic assertion is a consolidation area here for buyers until one of the previous pivots are broken on the rise up from the previous intermediate minor level at 2234, that pivot being at 2260. Good luck today and profitable trading!