S&P500 Expert Lounge Update –September 2, 2016

Good morning everyone,

These are key timing for today: 10:00AMEST, 1:30PMEST

These are key MA levels:  5EMA 2173, 10DMA 2176, 20DMA 2179, 50DMA 2155

These are key Fib Levels:  2155, 2172, 2177

These are key primary and intermediate levels:  2180(minor), 2155(minor), 2148(minor)

Here is today's market look at the S&P 500 for Friday, September 2, 2016

Happy NFP day everyone.  You'd of thought it was a holiday by the way tradingview had it splashed across the top of their page this morning.  Anyway, on to the nuts and bolts.  An unconfirmed support cycle is currently in the process of forming on the 480 chart at yesterday's lows.  That will define our support level of greatest importance near term.  Overall price action in the overnight was marginally positive but with the Employment Situation coming in at 8:30AMEST along with International Trade, anything is possible with regards to where the cash market opens.  Factory Orders hit the tape at 10:00AMEST and the rest of the day is relatively quiet going into the holiday weekend barring an 'event'.  Good luck today and from everyone here at MCM we hope you have a safe and happy holiday weekend.  See you in the lounge.

MSP

MSP

Primary and Intermediate Levels

Primary and Intermediate Levels

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