** Prep for Closing Session **
MARKET CONDITIONS
SPY - After a strong up move yesterday and world markets coming lower today, selling preassure was predictable. As noted in the morning prep, this movement looks more of a pullback. For this to be a fail break, we need prices to go back below 157.25. The longer it takes to go below this level, the less likely that will happen. The chart is already showing some bullish divergence. Considering we just broke up a range and are in treding up mode, my expectation is the buying preassure to come back. Do not expect the daily range to be broken today to either side.
Bias: Neutral
Accuracy: 100%. The up move expected and the respect for the daily range is great. Bulls still in control.
PM Stock Selection Sheet download - I am only watching half of the list. Already some potential in it.
Updated at 13:45
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Read this before using the information provided in this page:
- Educational purpose material only. Use this information at your own risk
- 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.
- 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.
- The morning sheet will be updated between 8:00 and 9:00
- The afternoon sheet will be updated between 13:00 and 14:00
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