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 2/26/16 7:58 am central:
We really have witnessed a changing of the tides of bears trying to push us back below to bulls taking this market up through previously seen highs, breaking through the 1950 level and moving our way closer to the Weekly Top levels @ 1975.00. We had a high of 1968.75 in the overnight and currently we are @ 1964.00 which is +13.50. This rally really started late in the day in yesterdays session and may have caught many shorts by surprise who were stubbornly holding on with us seeing some choppiness in the market between 1925-1932. Crude got a late in the day pop and then we followed suit shortly after and just kept going into the close. Crude this morning is up a $1.00 so just adding fuel to this bull train.
Looking at the Market Action Scanner, we can see that we are above the Daily and 240 min levels which carry’s more weight than the short term time frames. If we do get any selling pressure we will most likely move toward those top zones highlighted on the MAS chart below. So if we do get short know the context of this market and keep your eye on crude. We definitely could see a move lower in today’s session followed by another leg higher. I have highlighted 2 potential target areas to consider if you want to be short. All though I think the 2nd target may not been seen this week, but that is the volume area to keep an eye on.. If we do continue to move higher I think we are looking to target the 1975 Weekly TOP. So I would expect to see some volatility at that level. If we are long I would most likely look to take partial profits before we get there and then hold a few to see if momentum carry’s through.
Below you will see the 30 min Chart with our current levels. Buys are pinned near the highs so I am wanting to see the price and volume coming in when we hit the 8:30 open before jumping into those longs.
- Market Action Scanner Trial: http://buff.ly/1KHi7jv
- Market Dimensions Advisory Blog: http://buff.ly/1JIbxOS
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30 Min MDA SnapShot Chart:(click for larger image)
Market Action Scanner: (click for larger image)
Economic Calendar: (click for larger image)
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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