Good morning everyone,
These are key timing for today: 11:30AMEST, 3:00PMEST
These are key MA levels: 5EMA 2169, 10DMA 2165, 20DMA 2137, 50DMA 2103
These are key Fib Levels: 2179, 2169, 2150, 2138
These are key primary and intermediate levels: 2130(minor), 2126(primary major), 2116(major)
Here is today's market look at the S&P 500 for Tuesday, July 26, 2016
Happy FOMC meeting begin day everyone! As assumed from last week, the market has remained in a consolidation/termination pattern in anticipation of tomorrow's announcement. Data docket has a reasonable number of items with PMI Services at 9:45AMEST, New Home Sales, Consumer Confidence, Richmond Fed Manufacturing Index, and State Street Investor Confidence all hitting the tape at 10:00AMEST. We have a new unconfirmed 2nd End on the 480 charts and many of the other cycle charts have confirmed a trading range. It may be in everyone's best interest just to play the edges till tomorrow's announcement before getting overly committed to a direction. Good luck today.