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 4/26/16 8:30 am central:
We saw the bullish move from the end of yesterday continue in the overnight and print a high @ 2091.25. The Bears just couldn’t break down the low 2070’s and appeared at the time it trapped weak shorts and pushed higher. With the FOMC meeting’s starting today and the Fed Interest Rate decision coming out tomorrow @ 1pm central time, we could have a range bound day with not too much movement. Since it appears we had squeezed out some of the short positions with-in the last 24 hours. Looking at Market Action Scanner, these levels are grey neutral across the board. We are not seeing any direction guidance at the moment. The 2100 level is the TOP level resistance area, so if we do move back near session highs, I think it may be difficult for us to break through that today without us knowing what the Fed will do tomorrow. The Euro is moving higher, we are seeing Gold move higher this morning and Crude is trading close to $43.50
Looking at th 30 Min SnapShot we are close to the sell zone, but Navigator is currently Green Positive, so know that at this time frame we could be going against the trend with the short positions. If we do start selling off, I think we will hit the previous wall of volume highlighted on the chart. So that would be my sell zone target. We will see where the volume comes out and if there are potential confirmations to get long or short heading into each zone
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Market Action Scanner: S&P
30 Min SnapShot Chart: Showing Levels
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