** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished broadly lower today with shares in China leading the region. European markets are broadly higher today with shares in France leading the region. Core Retail Sales in Canada and New Home Sales in the US to be released before market opens.
Economic Calendar
SPY - Market is trading in range. Europe is up and Asia is down, hard to pick a side, so the mostly like is to go nowhere and trade around the point of control. It may try to make a new high, going to test the top of the range at 157.25, where sellers should appear. If we test the high of the fail break at 159.50, we could have a range extension (unlikely). Yesterday low should hold prices on the way down, but if it doesn´t as the up trend is broken a stronger leg to the bottom of the range at 153.75 or even lower could happen.
Bias: Neutral.
Accuracy: 50% Market is holding above 157.25. This move was stronger than expected.
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Updated at 8:30
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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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