S&P500 Expert Lounge Update – June 26, 2018

Good morning everyone,

These are key MA levels:  5EMA 2750, 10DMA 2765,  20DMA 2755, 50DMA 2710, 100DMA 2702, 200DMA 2664

These are key Fib Levels:   2731, 2739

Here is today's market look at the S&P 500 for Tuesday, June 26, 2018

We have two items of interest early in the trading session with Consumer Confidence and the Richmond Fed Manufacturing Index at 10:00AMEST.  Yesterday was a rough day for buyers as sellers took price and shoved it all the way down to the 100DMA and sliced through multiple levels that buyers are now going to have to try and reclaim.  Given the severity of the drop yesterday, we're likely to see some consolidation today as both sides reposition themselves for the next move.  Buyers will be looking to maintain a base above the 50DMA in an attempt to make a run at the primary minor level at 2732.  Sellers objective is very clear.  They'll be looking to go after the next intermediate minor level at 2683 and challenge the intermediate pivot at 2675.  Good luck today!

Primary and Intermediate Levels Detail

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