Here you will find the most recent trade levels released today in the Market Dimensions Advisory. This update is showcasing an MDA SnapShot levels with potential buy and sell zones for you to consider executing on the day. If you would like to further discuss these trades do not hesitate to contact me directly. If you are not getting these updates sent to your inbox each morning, please subscribe HERE. To see all MDA updates (morning & intra-day levels, trade recaps, educational material) visit my blog page HERE.
Published 4/4/16 8:32 am central:
The bulls flexed their muscles Friday after some selling after the employment data and never looked back. We are still trading in the high 2060’s with a high @ 2071.50 from the overnight early morning session. We have been slightly grinding lower from that high the last couple of hours. Looking at Market Action Scanner you can see that we are bullish across the board with several confirmations. We see the SP Odometer bullish and the we are above the Tops on a couple zones. I also highlighted some key levels to consider the next coming sessions that bulls and bears will be keeping there eyes on. Crude oil is just under its Sunday night open pricing but there was a low @ 36.18 and a high @ 37.08. This market is near recent lows as Saudi Arabia announced they will not cut any oil production unless Iran agrees as well. We will have to keep an eye on that market. However, the correlation between oil and stocks is still in play but not as strong as it maybe was a month ago.
Looking at the 30 Min snapshot chart, we are just below new levels. and are seeing some short term movement coming in from the recent highs. The range between breakout buy and breakout sell is very tight so keep an eye on that if you are looking to short. We also have the previous sell zone coming in play too. This could be confirmation for bears if we start breaking that level. I also highlighted the previous high volume area we traded last Friday. This could be a level of support for bulls. We will need to see where the volume comes in and who takes control today.
30 Min SnapShot Chart: (click for larger image)
Market Action Scanner (click for larger image)
Economic Calendar: Video on how to access on dt pro: https://vimeo.com/160017837
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