S&P500 Expert Lounge Update –July 27, 2016

Good morning everyone,

These are key timing for today: 12:00PMEST, 4:00PMEST

These are key MA levels:  5EMA 2170, 10DMA 2168, 20DMA 2142, 50DMA 2106

These are key Fib Levels:  2191, 2186, 2156, 2145

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 Wednesday, July 27,  2016

Finally, the FOMC announcement day has arrived after two weeks of range bound market torture.  Depending on your risk seeking/aversion, this could be your day to either find something else to do or formulate a game plan for 2:00PMEST.  We have another reasonably heavy data day with Durable Goods at 8:30AMEST, MBA Mortgage Applications at 10:00AMEST, and EIA Petroleum Status at 10:30AMEST.  Lastly and most importantly is the FOMC announcement at 2:00PMEST.  On the cycles front, the 60min chart put a 3rd end in during the overnight session.  Good luck today and be mindful of any open positions coming into the 2 o'clock hour.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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