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 4/5/16 8:33 am central:
We had more negative movement during the overnight session and early morning hours. (Low at 2041.25) We highlighted that this momentum could continue with our short signals yesterday as well as the end of day confirmations (see chart end of email). For those who swing trade or hold positions during the overnight session, this was a nice move.
Looking at today, we are currently pinned on the lows and have broken below the Weekly POC and the Daily Top we called out yesterday as short term targets. We could see some volume put in at this level, but ultimately the bears need to grind down and break the 2021 level for bears to take complete control. We see on the MAS that the SP odometer is short term the 240 min and the 60 min red bearish. With the 60 strong bearish and the 240 just starting to show red. Crude oil has been on a sell off the last few days and this has added downward pressure on stocks. Crude is knocking at the $35 a barrel level with a low today near $35.25. This could be a technical short term support area and could potentially hold stocks from going lower if we do move back above $36. I think in order for bulls to maintain their control they need to get back above 2050 and close above that price today. Otherwise, we could see us move toward the Daily bottom level. Short term taking in yesterdays session and the overnight the Bears are gaining some momentum as you can see the 240 min level is trading red bearish.
Looking at the 30 min SnapShot Chart we are right now at the Green sell zones which are the low of the day. We have a breakout buy signal which is against the grain on the 30 min chart so it would be a short term counter trend, but could see some shorts get squeezed out and push us back into the mid-2050’s we see a lot of previous volume. We will have to see where the volume support comes in during the session.
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
4/4 Yesterday’s Sell zones update:
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