S&P500 Expert Lounge Update – January 17, 2017

Good morning everyone,

These are key timing for today: 8:30AMEST, 10:30AMEST, 1:45PMEST

These are key MA levels:  5EMA 2272, 10DMA 2271,  20DMA 2264,  50DMA 2228, 100DMA 2188, 200DMA 2150

These are key Fib Levels: 2302, 2184, 2152

These are key primary and intermediate: 2275(intermediate minor), 2254(intermediate minor)

Here is today's market look at the S&P 500 for Tuesday, January 17, 2017

The continuous decline throughout the overnight suggests either white or cyan for today's MSP so be mindful of any attempt to bottom around 8:30AMEST.  Data is very light today with only the Empire State Manufacturing Survey at 8:30AMEST.

MSP

Nothing bearish about the technical picture, at best we'll call it a consolidation with what appears to be a lower high in place, but not lower swing low.  We have yet to be able to sustain trade under the 5DEMA so momentum still favors buyers at present.  A positive for the sellers is the Primary and Intermediate markers at the all time high which suggests this run is wearing itself out and will be due a more sizeable pullback soon.  Good luck today!

Primary and Intermediate Levels

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