S&P500 Expert Lounge Update – July 19, 2018

Good morning everyone,

These are key MA levels:  5EMA 2804, 10DMA 2787,  20DMA 2757, 50DMA 2746, 100DMA 2713, 200DMA 2685

These are key Fib Levels:   2821, 2790, 2783

Here is today's market look at the S&P 500 for Thursday, July 19, 2018

Data for today consists of Jobless Claims and Philadelphia Fed Business Outlook Survey at 8:30AMEST, Bloomberg Consumer Comfort Index at 9:45AMEST, Leading Indicators at 10:00AMEST, and the EIA Natural Gas Report at 1030AMEST.  Sellers have stepped in this morning and look set to challenge the primary minor level at 2801 along with the 5DEMA just below.  This will be the first solid breach of rising support and has the potential to create a decent amount of downward movement.  Buyers will be looking to put a floor under price near the next lower primary level at 2778 and at the 10DMA in an effort to challenge the all time highs.  Good luck today!

Primary and Intermediate Levels Detail

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