Here you will find the most recent trade update released today in the Market Dimensions Advisory. This update is showcasing an MDA SnapShot New Entry in the E-Mini S&P Market. To get these updates sent directly to your inbox, please subscribe for free HERE. To see all MDA updates visit my blog page HERE.
Published 2/25/16 8:18 am central:
The bullish momentum carried over from the end of yesterday’s session into our overnight and this morning. We are slightly up this morning trading @ 1935.00 with a high @ 1938.50. The current low is 1920.25 so we have stayed above the weekly POC. Looking at the Market Action Scanner, we are neutral 3-time frames of the 4. So we need to really break out of these recent highs we have seen to get more fuel behind the bulls. Otherwise, I think we will be range bound and trade between these levels until we get some type of news event driving higher or lower. I would say 240 min and daily momentum is beginning to favor the bulls and looking at the SP odometer on MAS we are seeing the stocks starting to show weekly time frames flipped to green bullish and is holding. If we continue to see crude oil stay above $30 and grind back up to the $34 prices, I think we will see the ES market look to target the weekly Top level. However, I do think it will be a bumpy ride with every day presenting short term long and short opportunities we can look to try and take advantage of.
Our current chart is showing us that we broke through the 30 min buy zone. So we need to lean on that level as support or look for new formations to appear. As you can see what I highlighted on the MAS 4 hour level, that top level, if challenged, could be bullish wind in the sails. That is near the high on the day. So if you like the long side, I would look to be long near low 30s and use the 30 min risk level. If that level is broken we could see some downside action to the 1910 area where we broke out yesterday.
We will see what the day brings, right now bulls have control of this and look for momentum to move through the highs. Unless we challenge 1920 after the open.
30 Min SnapShot Chart: Click for larger Image
Market Action Scanner: Click for larger Image
Economic Calendar: (found on dt Pro)
Market Dimensions Advisory – Free Edition - Market Dimensions Advisory leverages insights gained from working with professional traders, commercial clients and institutional businesses paired with an understanding of market relationships, order flow and trading volume, along with news, trends and seasonal info, to give you a "3D view" of trading. Market Dimensions Advisory – Free Edition 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!
Subscribe to Market Dimensions Advisory – Free Edition
Market Action Scanner
Market Dimensions Advisory – Free Edition - Market Dimensions Advisory leverages insights gained from working with professional traders, commercial clients and institutional businesses paired with an understanding of market relationships, order flow and trading volume, along with news, trends and seasonal info, to give you a "3D view" of trading.
Market Dimensions Advisory – Free Edition 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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