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.