** Preparation for Closing Session **
MARKET CONDITIONS
SPY - Try to break down below the 154.25 level identified in the morning preparation, but did not hold below. It´s a bit far away from it´s down trend line. Need a lot of volume to break down at this level. A consolidation close to 154.25 / 154.75 would help if this scenario was setting up. The other possibility and the one mostly likely after this fail to break down, is the market to go into an up auction an test the down trend and the 156.25 level at the same time, were the sellers will pressure prices down again. A bullish bias only if the down trend is broken.
Bias: Neutral Bearish but Up Auction
Accuracy: 75%. The up action happen on the day after, but it did not break down.
PM Stock Selection Sheet download - I am limiting my list to follow down to 15 stocks, that´s why the list has levels for only 15 stocks.
Updated at 14:05
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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 afternoon sheet will be updated between 13:00 and 14:00
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 afternoon sheet will be updated between 13:00 and 14:00
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