S&P500 Expert Lounge Update – June 29, 2018

Good morning everyone,

These are key MA levels:  5EMA 2722, 10DMA 2744,  20DMA 2756, 50DMA 2716, 100DMA 2702, 200DMA 2667

These are key Fib Levels:   

Here is today's market look at the S&P 500 for Friday, June 29, 2018

Happy Friday everyone!  We have a few items of interest this morning with Personal Income and Outlays at 8:30AMEST, Chicago PMI at 10:00AMEST, Consumer Sentiment at 10:00AMEST, and the Baker Hughes Rig Count at 1:00PMEST.  The technical picture still has price in limbo after yesterday's impressive recovery by the buyers. Present price in the overnight has us back up to the first of three in a declining resistance array.  The primary minor level at 2737 and the next declining resistance will be their primary target for today.  Sellers will be looking to attack the 100DMA and build a base below it to continue their slow ratcheting decline.  Good luck today and have a great weekend everyone.

Primary and Intermediate Levels Detail

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