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 2/16/16 8:09 am central:
We are back in the office after a holiday session yesterday. We had quite the bullish uptick in the market based on the rumors of a production freeze coming from OPEC which caused a major uptick in the crude markets. The ES market was knocking on the door of 1900.00 in the overnight and has since retraced. we are currently breaking/challenging the bottom levels on the 30 min, 60 min and 240 min charts. This could send us toward the daily POC of 1862. On the other hand, if we can break 1885.00 level on the open we could see us challenge the highs on the day and look to break into the 1900.00 price range. However, I think we will be heavily dependent on what the crude market it does. It is down about $2 from the highs we saw in the overnight, so could have some room to run back up to those prices.
Below you will see a 30 Min SnapShot chart, highlighting the current chart. I have highlighted the buy zone and risk associated with that trade. As well as the Market Action Scanner showing both bull and bear targets. If you are looking to sell this market I would suggest selling these levels but keep risk tight. If we break 1885.00 we could see the high’s tested.
Remember, these charts and tools work on all markets. I just happen to showcase the ES in this newsletter at this time. I am able to use these technical indicators to highlight similar plays in all markets. Please inquire with me if you have a market you want to review.
30 Min SnapShot Chart:
Market Action Scanner
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Market Action Scanner
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