S&P500 Expert Lounge Update – May 7, 2018

Good morning everyone,

These are key MA levels:  5EMA 2646, 10DMA 2651,  20DMA 2660, 50DMA 2681, 100DMA 2705, 200DMA 2615

These are key Fib Levels:   2905, 2774, 2684, 2674, 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 7, 2017

A couple items of note today in the mid to latter portion of trading with the TD Ameritrade Investor Movement Index at 12:30AMEST, and Consumer Credit at 3:00PMEST.  Buyers showed up on the last trading day of last week pushing price above the 20DMA and declining resistance at the 2660 level.  Buyers will want to maintain above the primary minor level at 2650 to build a base in an attempt to take a run at the 50DMA and the next intermediate declining resistance around the 2780 level.  The sellers first job with price if they are to get anything going is to cause a failure at 2650 to make a run back at the 200DMA near the 2620 level.  Good luck today!

Primary and Intermediate Levels Detail

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