** Prep for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished mixed. European markets are broadly lower today with shares in Germany off the most. With no big economy number to be release today, Germany market as the strong economy is significant.
Economic Calendar
SPY - Market is gaping down following the world markets. The first scenario we should consider it the smaller range between 154.50 and 157.25. If we stay inside this range there will be more of a neutral day, trading around the POC of the bigger range. This move would have a bearish sentiment to it after the fail break. The second possibility is the break down of 154.50 leading to a sell off and panic. Price will find support at 151.00 or around 149.00s. The third and least expected is the break of 157.50. This would be seen as a bullish sign and we need to re-evaluate if this happens.
Bias: Neutral to Bearish
Accuracy: 100% Market did the expected trading around the smaller range as expected.
AM Stock Selection Sheet download - Today the list seems clear. The levels were easier to identify. Good opportunities today.
Updated at 7:35
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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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