Good morning everyone,
These are key MA levels: 5EMA 2887, 10DMA 2891, 20DMA 2868, 50DMA 2827, 100DMA 2772, 200DMA 2736
These are key Fib Levels: 2929, 2853, 2841
Here is today's market look at the S&P 500 for Monday, September 10, 2018
There are only a couple economic items of note today with the TD Ameritrade Investor Movement Index at 12:30PMEST, and Consumer Credit at 3:00PMEST. Friday's session proved the 20DMA and intermediate minor level at 2866 to be solid support as sellers could not push their way into the void. Buyers have used that as a signal to step in during the overnight session and look to gap the market up into the area of declining resistance and the 10DMA and 5DEMA. If able to clear all those items on the opening tick, watch for a basing process to occur atop the primary minor level at 2874 in an attempt to run back to new all time highs. Should sellers be able to hold the declining resistance, then a run at the next lower intermediate minor level at 2847 is virtually assured. Good luck today!