S&P500 Expert Lounge Update – May 14, 2018

Good morning everyone,

These are key MA levels:  5EMA 2698, 10DMA 2672,  20DMA 2673, 50DMA 2678, 100DMA 2706, 200DMA 2621

These are key Fib Levels:   2905, 2774, 2759, 2637, 2587

These are key primary and intermediate levels: 2871(primary minor), 2817(intermediate minor), 2779(primary minor), 2765(intermediate minor), 2651(primary minor), 2577(intermediate minor), 2563(intermediate minor)

Here is today's market look at the S&P 500 for Monday, May 14, 2018

With no data to speak of today there is only the technical picture to focus on.  The near term target of 2758 mentioned last week is the most probable area before sellers would have the potential to put in a more meaningful pivot, but there currently is a primary and intermediate pivot marker tracking the present rally which hints that we are nearing a pivot.  Out over the pivot high and it is clear sailing for buyers to get to the next intermediate minor level at 2765.  Below there is rising support and the 100DMA at the 2709 area.  Good luck today!

Primary and Intermediate Levels Detail

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply