Below you will see the published updates from the Market Dimensions Advisory showcasing the positions that were executed following the MDA SnapShot levels that were released from today’s session. This content is from the “Trading Updates/Recaps” that go out to MDA Subscribers. If you would like to follow these trading alerts in real-time, receive them in your inbox and have the ability to speak with me, you will need to subscribe to the newsletter and become a client of our firm. To get these updates sent directly to your inbox, please SUBSCRIBE HERE. To see ALL MDA published updates (trading recaps, daily levels, and educational trading material), visit the MDA BLOG PAGE: HERE.
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Below the first update, you will see the original charts showing buy/sell zones
Published 5/25/16 – 9:18 am – Long Position Update (new chart added time of this post)
We were filled on the long position, even with the delayed update you still had time to hit that pricing. We are currently grinding higher making new highs. Appears that people are looking to sell these highs, doesn’t go down, they offset their position and it pushes higher. We are now starting to see some bigger offers enter the market to try and stop us from moving higher. We are making new highs in NQ, YM and Crude. So I would just watch this closely and trail your stop up.
Long @ 2085
Last @ 2091.50 (high)
+6.50 or +$325 before fees
30 min SnapShot Chart Highlighting the S&P Long
Published 5/25/16 – 8:51am – MDA SnapShot Levels Emailed To Subscribers Showing ES Buy/Sell Zones
Yesterday the bulls were in full force, but also, shorts were squeezed out as we made new recent highs and broke above the 2075 price level. that momentum continued with us trading higher in the overnight to 2085.50, which is just above the weekly Top zone on Market Action Scanner. For those who have a longer term bearish stance on the stock market, this is your opportunity to get short near recent highs and play a longer term short position if we look to challenge the 2030 prices and potential 2000 price level. For those bulls, we need to see if momentum can hold and push us above 2100. A potential June rate hike could add some volatility into this move higher, and from my readings online it is being said “smart money” is starting to step in and sell these prices. I don’t put much stock into those type of headlines or articles but worth noting. I think there is a lot of uncertainty, we could retrace today, but you would think bulls want to defend that 2073 price level where a lot of retail shorts came in and appeared to get squeezed out.
Looking at Market Action Scanner, it is bullish Daily/240 from a level standpoint and very bullish on the SP odometer. We could perhaps suggest with this quick of a move up the Weekly Top could be potential resistance on an overbought market with such a quick move.
Looking at MDA SnapShot chart 30 min. We pinned up against the highs and have had 2 very small levels form from the overnight. I have highlighted both levels as they are very close in risk. If bullish, look to lean on the old levels. We will need to see where the price action comes in today. Ultimately if we do move downward we need to see how the high volume at 2073 holds. We could see shorts coming in and if we make new highs they get squeezed out and we look to grind toward 2100.
30 min SnapShot Chart – S&P Showing Levels
Market Action Scanner: ES
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