Here you will find the most recent trade levels released today in the Market Dimensions Advisory. This update is showcasing the MDA SnapShot levels with potential buy and sell zones for you to consider executing starting your trading 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.
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Published 6/01/16 8:28 am central:
We traded lower yesterday from the 2100 level Tuesday after our holiday weekend and was able to break into the 2080’s in the afternoon with some pops back to the 2095 area. In the overnight we traded just under the 2100 area and have moved lower since and being fueled by soft economic data yesterday and during our overnight session (OECD PMI). We saw weakness in the crude market late in the day yesterday and follow through during the overnight with us trading down from the $50.00 level to now under $48.00. This has a lot to do with the upcoming OPEC meeting.
Looking at Market Action Scanner, we are seeing the 2 shorter term time frames are red bearish with the weekly/daily levels still holding green bullish. The SP odometer is still green bullish across all time frames but could change after the open. I would look for buying this dip or support on the weekly top or the daily top, depending on your risk per trade level.
Looking at the 30 Min SnapShot, we are below both levels formed in the overnight, with a more recent level forming not too long ago. On this short term time frame lean on these levels or wait until new levels to form. With TAS navigator in the red Bears are in control on this chart, so selling is the first thought. Buying is countertrend, so know you could be against the momentum given this time frame. If we do get a move higher to start the session you may want to consider selling the Top Red Zone and risking new highs. If you are a longer term bull, consider buying the weekly MAS Top or the Daily Top outlined in the Market Action Scanner. Those are short term bear targets too.
Remember these tools work on all time frames and all markets. I suggest contacting me to demo the products or discuss the markets you trade.
Click Below Images for larger new Window
Market Action Scanner: S&P
30 Min SnapShot Chart: Showing Levels
Economic Calendar: Video on how to access on dt pro: https://vimeo.com/160017837
Market Dimensions Advisory – Free Edition - Market Dimensions Advisory leverages insights gained from working with professional traders, commercial clients and institutional businesses paired with an understanding of market relationships, order flow and trading volume, along with news, trends and seasonal info, to give you a "3D view" of trading. Market Dimensions Advisory – Free Edition includes an email newsletter subscription. The Market Action Scanner is a premier Market Profile based scanner powered by the acclaimed TAS proprietary algorithms. Sign up for a 14-day trial to Market Action Scanner!
Subscribe to Market Dimensions Advisory – Free Edition
Market Action Scanner
Market Dimensions Advisory – Free Edition - Market Dimensions Advisory leverages insights gained from working with professional traders, commercial clients and institutional businesses paired with an understanding of market relationships, order flow and trading volume, along with news, trends and seasonal info, to give you a "3D view" of trading.
Market Dimensions Advisory – Free Edition includes an email newsletter subscription.
The Market Action Scanner is a premier Market Profile based scanner powered by the acclaimed TAS proprietary algorithms. Sign up for a 14-day trial to Market Action Scanner!
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