S&P500 Expert Lounge Update –July 29, 2016

Good morning everyone,

These are key timing for today: 12:30PMEST

These are key MA levels:  5EMA 2169, 10DMA 2169, 20DMA 2149, 50DMA 2110

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 Friday, July 29,  2016

As monetary policy remains unchanged for both Japan and the US Central Banks, so does the market as we continue in the 2nd tightest two week range in the S&P's history.  GDP produced a muted response this morning upon it's release but we have a couple other data points that hit the tape a little later with Chicago PMI at 9:45AMEST and Consumer Sentiment at 10:00AMEST.  Cycles have predominantly completed impulses and are currently oscillating.  Daily MSP favors a marginally upward bias at present.  Good luck today and everyone here at MCM hopes you have a exceptional weekend.



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