S&P500 Expert Lounge Update – June 1, 2016

Good morning everyone,

These are key timing for today:  2:00PMEST

These are key MA levels:  5EMA 2096, 10SMA 2079, 20SMA 2068, 50SMA 2069

These are key Fib Levels:  2083

These are key primary and intermediate levels:   2072(major), 2086(major), 2099(minor)

Here is today's market look at the S&P 500 for Wednesday, June 1, 2016

Lots of movement in the overnight, but no progress made in either direction.  The data docket is chocked full today with PMI Manufacturing at 9:45AMEST, ISM Manufacturing at 10:00AMEST, Construction Spending at 10:00AMEST, and the Beige Book at 2:00PMEST.  The Beige Book coincides with timing which increases the potential of a market turn point.  There are a couple new bullish LRE's on the 135 chart and a freshly printed support cycle on the 288 and an End on the 60min chart.  Finally the daily chart printed an End yesterday signaling the potential of a top at 2112 SPX.  Good luck today and trade safe.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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