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 3/17/16 8:09 am central:
We had a wide range in the overnight session as the world digested the FOMC meeting yesterday and the announcement to keep interest rates unchanged. This has led to many professionals with-in the investing world to question Yellen and the Fed’s decision. To find more about this simply 20-30 minutes reading Bloomberg news and other reputable outlets that report on these events. The announcement did send the ES market higher and created a bit of volatility but the ES market never was able to break below the 2000 levels and traded higher into the 2020’s. The major movers were the dollar selling off and hitting lows we have not seen for quite some time and seeing gold surge higher. Days of large fundamental news, it is sometimes best to just let the dust settle and then use our technical analysis to try and find high probability trades. Fundamentals will always trump technical and that is why I tend to be flat during these reports. Or have pre-determined levels of admitting a trade is wrong if holding a position.
Taking a look at today’s session. We had a high of 2027.25 and a low of 2005.75 in the overnight. with us trading between 2014-2008 the past few hours. This is where our buy/sell zones are coming into play. Looking for momentum to break through this level. The bears will be going against the grain as you can see on the chart there is a quite a bit of volume built up on the TAS market map @ the 2007 price level. The 200-period moving average is also sitting there too. On the TAS Navigator we are beginning to see red bars, which is a bearish confirmation, however, this is a very short-term time frame. We need to remember that bulls are in control until we really break the 1991.00 level. If you look at the Market Action Scanner, you can see that this is confirmed with us still above the Daily Top level and essentially sitting on and being above the 240 min Top. Also the SP Odometer is showing that all time frames for ES are green bullish.
If we break through the buy zone we could see the market trade to the 2025.00 level. This is near the POC from that previous zone we had. We also can see on the chart that a lot of overnight volume traded there as well.
Below you see the 30 Min SnapShot Chart, Market Action Scanner and the Economic Calendar for today
30 Min SnapShot Chart: (click for larger image)
Market Action Scanner (click for larger image)
Market Action Scanner
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