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 3/31/16 8:25 am central:
We saw a bit of a weak overnight and early morning hours. We are trading around 2054 right now but put in a low @ 2047.25 which is right in line with the Daily Top Zone. We have been seeing jobs economic data being released today and yesterday, but I believe the market is really keeping an eye open for tomorrow’s April 1st Non-Farm payroll and Unemployment rate. we could see some strong volatility ahead of that number. So that being said, we could see today somewhat range bound, unless we start breaking back into that daily zone. Currently we are still bullish when looking at Market Action Scanner, we are above the daily level and we are above the hourly level at the moment. Looking at the SP odometer, all levels are green bullish.
Looking at today’s SnapShot chart we have put in a lot of volume at the 2056 zone yesterday and today, we are hovering around this price right now. The current session low is the daily top right now, we could see that level tested again may see some strong support there. Crude oil showed some weakness in the overnight, but had some strength early morning, but we are now beginning to retrace back below $38, so I will keep an eye on that market as well. On our 30 min ES chart, we see that new levels just formed, but they are a very tight range so again, we could see some bouncing around from these prices and easily trade between them. I would look to the previous bars that were created early morning with us trading above that top zone and the 2049.00 bottom level, near the lows could be the momentum tipping point for bears. Bulls may want to see if we pull back to that POC level @ 2051 to buy and see if we retrace back to the high volume level near 2056 and look to break through it this time. we will see where we open and where the volume comes in to have more clues if bulls or bears will take control today. Keep in mind that we could be a bit slow today in preparation for tomorrow.
30 Min SnapShot Chart: (click for larger image)
Market Action Scanner (click for larger image)
Economic Calendar: Video on how to access on dt pro: https://vimeo.com/160017837
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