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 3/15/16 8:42 am central:
We had a sell off in the overnight which I was looking to happen during yesterday’s day session. The bulls just wouldn’t let the bears break down to 2000 or below. Even with the oil markets selling off. We are finally seeing a bit of divergence between what is taking place in the crude markets and what the stock market is doing.
This morning we have been pinned against the sell zone on a 30 min chart. With us now breaking below that. At this point, I still believe that bulls are in control so I am waiting to potentially buy a sell-off in the market. Or if we trade through the buy zone. According to Market Action Scanner and the SP Odometer, bulls are still in control on all time frames. The levels on Market Action Scanner has us in neutral zones. I think bears need to break the 1991 level if they are going to have a shot of getting back into those lower ranges. So I would lean on that level as the first line of support.
Here are the updated levels. If we get new levels based on the opens activity I will provide an update.
30 Min SnapShot Chart: (click for larger image)
Market Action Scanner (click for larger image)
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