Here you will find the most recent trade levels released today in the Market Dimensions Advisory. This update is showcasing the MDA SnapShot levels with potential buy and sell zones for you to consider executing starting your trading 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.
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Published 7/14/16 8:02 am central:
Yesterday we had quick challenge and breakthrough above the 2050 zone and then retraced back down and traded in a channel on our 30 minute SnapShot Levels for the remainder of the session. We have put in a larger amount of volume @ the 2145 price area (see the area on chart). During the overnight we moved higher and broke out of the Top Zone and over the course of several hours grinded higher, formed new levels and broke out putting a high @ 2168.00. Since then we have been resting on the Top zone level with one bar breaking below the POC. We are seeing TAS Navigator starting to show dark green bars with red tips which are a sign of weakness entering, however still green bullish in control.
Looking at Market Action Scanner, it is a bullish technical setup on the longer time frames. 60 minutes we had new levels form and we are challenging that top zone. If we break below the 60 min bottom we will most likely trade down to the 240 Top/POC areas. The 240 bottom @ 2136 will be a strong support zone. if we close below that we could see us getting back down to the Daily Top zone.
Below you will see the SnapShot charts going into the open. Remember, if you have an open account with me we can discuss and review other markets in this format. I would also encourage you to get access to your own platform and adding these tools so I can begin teaching you how to use them for your short term or longer term trading.
Click Images for larger new window
Market Action Scanner: S&P
MDA SnapShot 30 Min Chart: (these are the 30 min grid levels on a chart)
Economic Calendar: Video on how to access on dt pro: https://vimeo.com/160017837
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