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.