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 6/8/16 8:27 am central:
Below you will find the levels and charts created for the S&P to start the day for 6/8/16. We have been on the long side the last several days and been able to take advantage of those moves. The 2018 level yesterday I pointed out held and we could be in a position to potentially take that out if we move higher. We did see a breakdown end of day yesterday after that failed and tested the 2106 pricing level. We could see the 2107.50 coming in on support today and the old levels from the overnight. we broke out of that zone in the overnight and could lean on that if we do move a bit lower after the open. Buying @ 2110-2110 with the 2107 stop.
Looking at today’s levels, they are very tight so almost too tight to trade them as a breakout. We will have to see how we open up. I do think bulls are still in control and like trying to buy the upside on the breakout or if we pull back down. If you do take the sell zone @ 2112.00 know you are going against the longer term trend of late. With the 240/60 min time frames on the Market Action Scanner, lean on those top/bottom zones for support and resistance.
I encourage all subscribers to contact me directly and talk to me about what you are trading. These tools and my approach will work on all markets and all time frames. I can provide levels or get you trials.
Click on images to open larger new window for easier reading:
Market Action Scanner: S&P
MDA SnapShot Levels – Quick Grid – ES
30 Min SnapShot Chart: Showing Levels
Economic Calendar: Video on how to access on dt pro: https://vimeo.com/160017837
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