S&P500 Expert Lounge Update – May 16, 2016

Good morning everyone,

These are key timing for today:  11:00AMEST,  2:30PMEST

These are key MA levels:  5EMA 2061, 10SMA 2059, 20SMA 2074, 50SMA 2056

These are key primary and intermediate levels:  2040(minor) 2060(minor), 2072(major),

Here is today's market look at the S&P 500 for  Monday, May 16, 2016

Empire State Manufacturing Survey came in well below the consensus of 7 with a -9 and with MSP's split between direction we could be in for another messy chop ridden day.  With the US Housing Market Index at 10:30AMEST along with timing coming in at 11:00AMEST that will be an area of interest for the ongoing session.  The pivot lows at 2040 are of great importance with the daily BR and the recently added LRE at roughly the same level.  Good luck today and profitable trading.

2016-05-16_2-17-35_intradayMSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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