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 6/21/16 8:20 am central:
We ended yesterday’s session with a small sell off and then a quick rally back before the close. During the overnight, we have a high @ 2086 and a low @ 2074.25, with a majority of the volume coming in during our open session @ 2081.00. We have seen crude sell-off early this morning as well as gold push back below 1300 on the august contract. Bonds also traded back up to 168 range. We have Janet Yellen testimony this morning at 9am. So we could see some fallout from her questioning or it may be a non-event. The news about Brexit is that the spread betting houses are suggesting that they will remain.
Below you will find today’s updates. Market Action Scanner with its current levels has us gray neutral. We have a bullish green sp odometer that we can say bulls on the cash market are in control still the previous sessions. Below you will also see the MDA SnapShot Grid levels. These are all the SnapShot levels as outlined on the 30 min chart across multiple longer term time frames. The levels are played the same way. Tops/Bottoms on longer term time frames indicate support and resistance and potential breakout zones if closes above or below them.
On the SnapShot Chart, it is getting quite busy with the lines that I am adding, but I want to try and point out significant levels that I am watching and considering so you have a better idea of what I am watching.
If you are not a client with me or if we have never spoken, I encourage you to reach out. If you are trading self-directed, we can support that on our platform and I can provide access to the tools I use. We can also chat about this market further as well as all the other markets I follow and the levels associate with them.
Click Images for larger new window:
Market Action Scanner: S&P
MDA SnapShot Levels – Quick Grid – ES
30 Min SnapShot Chart: ES
Economic Calendar: Video on how to access on dt pro: https://vimeo.com/160017837
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