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 7/20/16 8:29 am central:
We were range bound yesterday during the session with it being another low volume day. We just didn’t see the momentum breakouts we were looking for on the zones. If you played the zones you could most likely scratch the trades or got very small scalps. The trade of the day was shortly after the open when we ticked higher to the 2057-2058 area I called out, using the 2061 high volume as a stop/support and see if we retraced back down to the lower 2050’s. We didn’t get much follow through when we moved lower but that setup worked. The TAS navigator started the session on 30 min chart as red negative and by the end of the day, it was close to neutral and about to flip green. This was a sign to me that the top zones would be in play for breakouts in the overnight or next session. We did, in fact, see that occur in the overnight night with us breaking out of this channel and putting in a high @ 2167.25. We have now retraced back to the most recent top zone on the 30-minute chart. I would like to see where we open up and if we retrace back toward the 2160 zone. If that is the case we could see a small downside momentum play back to 2155 playing the levels. The bulls are still in control but not as strong as they were on the 240/60 min Market Action Scanner time frame. We could use this small downside move as a means to get long too. We will have to where we go when the market opens. We have an EIA storage report @ 9:30am central and that is about it for economic data. Sept Crude is breaking lower this morning wit hit trading just above 44.50
Click the images below for larger new window:
Market Action Scanner: S&P
MDA SnapShot Grid Levels: ES (All Time Frames I watch)
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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