S&P500 Expert Lounge Update –July 28, 2016

Good morning everyone,

These are key timing for today: 8:30AMEST, 1:00PMEST

These are key MA levels:  5EMA 2169, 10DMA 2167, 20DMA 2145, 50DMA 2108

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 Thursday, July 28,  2016

FOMC came and went without even so much as a hick-up outside of the current trading range surprisingly enough.  Since Bernake has taken a trip to Japan to discuss their 'situation', more emphasis may be put on what they do with their Central Bank announcement in the overnight session this evening.  There are a number of items to hit the tape this morning starting with International Trade and Jobless Claims at 8:30AMEST.  That is followed by the Consumer Comfort Index at 9:45AMEST, EIA Natural Gas Report at 10:30AMEST, and the Kansas City Fed Manufacturing Index at 11:00AMEST.  We have a new support cycle that triggered on the overnight weakness so that should be watched closely as a hint to whether we may make an attempt to break down out of the trading range, until then, play the edges.  Good luck today.

MSP

Primary and Intermediate Levels