** Prep for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished mixed. European markets are lower today with shares in Germany off the most. Since Germany is the strong economy in the euro region, this down move is significant. There a lot of things in the economic agenda today:
08:30 - Core CPI (MoM & YoY) and CPI (MoM & YoY)
09:00 - ECB President Draghi Speaks
12:00 - FOMC Member Duke Speaks
15:00 - FOMC Member Yellen Speaks
Economic Calendar
SPY - Gaping up today, but the down move yesterday was significant. As expected the POC of the previous range was the target for the move. Long term sellers took control of the market until we see a formation of an unfair low or buyers stepping back in. Since it was a strong move down yesterday, today the market may consolidate for a while before continue the down move. Still the bias favor the bears. If we go back above 157.25 is the only way we change out bias. On the chart we can see the 2 possible prior ranges that may provide support to the price movement.
Bias: Neutral to Bearish
Accuracy: 80% More of a neutral, and despite the fact market is hold so far, the bias did not change yet.
AM Stock Selection Sheet download - Lots of names today. Greater volume filter was applied to the list. Mining sector was grouped. Possible bounce on every negative stock, but do not be fooled by it.
Updated at 7:30
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Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
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