S&P500 Expert Lounge Update – June 10, 2016

Good morning everyone,

These are key timing for today:  9:45AMEST, 1:00PMEST

These are key MA levels:  5EMA 2111, 10SMA 2106, 20SMA 2086, 50SMA 2077

These are key Fib Levels: 2110, 2096

These are key primary and intermediate levels:   2086(major), 2099(minor), 2115(major), 2126(primary major)

Here is today's market look at the S&P 500 for Friday, June 10, 2016

This morning's key economic data is going to be Consumer Sentiment which comes out at 11:00AMEST and coincides with MSP timing.  Later on this afternoon we have the Treasury Budget at 2:30PMEST which is also in the vicinity of a timing point.  Although price has broken below support on the 288 and 480 cycles charts, an LRE was generated on the 288 at the overnight low.  The 60min chart has a freshly printed End signalling that the unwinds for the decline from the 2020 have begun and the 135min chart has also printed an unconfirmed support cycle.  HAL continues to hold a little less than half of its short position, so while some caution is warranted, market weakness likely isn't over in the near term.  Happy Friday everyone and profitable trading.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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