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 8/2/16 8:26 am central:
Here is the SnapShot for today 8/2/16. We are on the bottom end of the 4-hour range I pointed out Friday as well as mentioned yesterday. We highlighted potential sell zones yesterday and a spot to sell leaning on previous levels. Today, we are seeing that we were lower in the overnight on news out Japan and the UK. These levels as highlighted on the SnapShot Chart, have a lot of volume put in over the last sessions. On Market Action Scanner, we are seeing the SP odometer slightly turning red bearish and we are below the most recent updated 240 min levels. We are going into this support zone again, but we have more weakness than previously seen. So will this be the time that we break lower and touch 2150? We have the Market Action Scanner Daily POC @ 2155 and bottom @ 2152, bears need to close below that in order to take control. Otherwise we will bounce and hit the 2168-2170 levels again.
Click Images below to open images in new larger window:
Market Action Scanner: S&P
MDA Grid Levels: ES (My SnapShot Indicators across more time frames)
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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