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 5/27/16 8:28 am central:
We are coming off a very low volume day yesterday that really did not provide much trading momentum opportunities, we broke below the sell zone a couple times and we ultimately traded inside the range. Our overnight market last night is doing the same thing. We are pinned up on the highs with on a 4.50 pt range in the overnight. With a high @ 2092.50 (recent high 2 days ago) and a low @ 2088.00. This is indicative of couple things. One we are going into a holiday weekend and many trading participants are already checked out for the weekend potentially. 2nd and most likely more important is that Janet Yellen is giving a (Fed Speech) today @ 12:15pm central Time (see economic calendar below). We will see what that will bring and how it will spill into the market. Many traders are “Fed Up” with the “Fed” and what they have been doing. We will keep things technically focused in the newsletter
Look, at Market Action Scanner, we have a very similar setup to yesterday, but the SP odometers are still green bullish but at lower percentages. We are still seeing the 2083 price level as a short term trend change if that gets broken. We could have short term setups @ yesterday’s level @ 2086 and then look to add @ 2083 if you are looking to get short term momentum and build a position. To the upside we are still pinned right at these highs with a breakout @ 2092.00, yesterday was 2091, so the upside breakouts are still in line and just not seeing the buying momentum to challenge and break 2100. With oil breaking above $50 yesterday I thought it would have been its day to do it. now oil is trading @ 48.81 so not sure if the ES will follow lower. We will see how we open up and where we go at 12:15pm, otherwise, could be a low volume day. If you take trades don’t be afraid to reward yourself early or update a trailing stop and call it an early day. Wait and see what happens after Yellen’s speech and if you are up on the day, walk away and have a nice long weekend.
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Click Below Images for larger new Window
Market Action Scanner: S&P
30 Min SnapShot Chart: Showing Levels
Economic Calendar: Video on how to access on dt pro: https://vimeo.com/160017837
Market Dimensions Advisory - Get Inside the Mind of Commodity Market Professional Andrew Pawielski! The Market Dimensions Advisory leverages Andrew’s own live trading and a career of working directly with professional traders, commercial clients and institutional business. This deep understanding combined with countless hours of technical market analysis have made Andrew proficient with trading execution and the trading process. Market Dimensions Advisory includes an email newsletter subscription. The Market Action Scanner is a premier Market Profile based scanner powered by the acclaimed TAS proprietary algorithms. Sign up for a 14-day trial to Market Action Scanner!
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Market Action Scanner
Market Dimensions Advisory - Get Inside the Mind of Commodity Market Professional Andrew Pawielski! The Market Dimensions Advisory leverages Andrew’s own live trading and a career of working directly with professional traders, commercial clients and institutional business. This deep understanding combined with countless hours of technical market analysis have made Andrew proficient with trading execution and the trading process.
Market Dimensions Advisory includes an email newsletter subscription.
The Market Action Scanner is a premier Market Profile based scanner powered by the acclaimed TAS proprietary algorithms. Sign up for a 14-day trial to Market Action Scanner!
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