Here you will find the most recent trade levels released today in the Market Dimensions Advisory. This update is showcasing an MDA SnapShot levels with potential buy and sell zones for you to consider executing on the 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.
Published 3/9/16 8:10 am central:
We are up 8-11 pts this morning in the ES contract. we put in a high @ 1994 with the low @ 1978.75. The bulls are strong enough to not allow bears to break through that low 1970’s level and that key 1968 level I have been highlighting the last couple weeks. It does appear we have been getting some short term sales building up as you can see on the MAS the SP odometer has the 60 min and the 240 min time frames moving back into the red negative zones. This means looking at the same profiles we use that those time frames have that percentage below their bottom levels. which are bear confirmations. We got new zones on the daily level and has the daily POC near 1982. So that could be an area we hover around and breaks above and below could stay range bound and move back to that zone. On the daily charts the 200 day moving average is now at 1997 level and if you look at the chart it appears when we hit that moving average it looks like it stopped the bulls momentum and it held. If the bulls want to flex they need to close above that level today.
Below you will find the 30 min snapshot chart highlighting the top and bottom zone levels. We are bullish short term on this chart as we are above some previous boxes formed in the overnight, but new boxes just formed not too long ago. Crude oil is looking to make new highs with us +78 cents so could help push us higher. I have also highlighted 2 levels on the chart where we have had a lot of volume so far and we could look to stay in between for the short duration. If we hit the sell zone @ 1986.00 the bears need to break through 1982 and do it quickly.
we will see where the volume comes in on the open
30 Min SnapShot Chart: (click for larger image)
Market Action Scanner (click for larger image)
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