Here you will find the most recent trade update released today in the Market Dimensions Advisory. This update is showcasing a MDA SnapShot New Entry in the E-Mini S&P Market. To get these updates sent directly to your inbox, please subscribe for free.
Published 2/11/16 7:42 am central:
We had a very negative overnight. Technically we can see on the Market Action Scanner and our pricing levels on the charts that the longer term charts have been showing this negative technical direction. This gained steam fundamentally as many of the European banks and stocks are getting hit very hard and that is carrying over into our market. We also, had crude oil down as well. We made a low of 1802.50 that is roughly -40.00 pts in the overnight session.
Looking at our 30 min and 60 min SnapShot and MAS. We see a breakout level appearing @ 1821.00 level. We could see small quick retracement back up near the high 1830’s-1840’s. I would look to take advantage of this 10-15pt gain and then look to perhaps try and sell this market leaning on some of the longer term zones. All indicators are definitely pointing in the Bearish camp, so you need to realize that this most likely will dominate the session, however, the last few weeks we have seen extreme bounces and sell offs during the sessions. So we could very well hit both sides of the range on the day.
Here is the 30 Min SnapShot: Click image for larger new window
Here is the Market Action Scanner: click imager for larger new window
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