** Prep for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are sharply lower today with shares in Germany off the most. Germany is the strong economy in Europe, so this is a sign of a bearish day.
Economic Calendar
SPY - Is trading in a range between 157.20 and 153.50 and the Point of Control(POC) is at 155.50. Yesterday we traded around the POC after trying to break higher and failling. Today we are gapping down below an intraday level of 155.15 and likely to test the 154.25 / 153.50 area where buyers may be found, holding the prices. If we break below 155.50 and hold below, then we become very bearish for the day.
Be aware of the economic number beeing release before the market open.
Bias: Bearish for the morning
Accuracy: 80% - the down move happened before market open on the release of economic numbers. Buyers were found at expected level, but after the open it moved sideways.
AM Stock Selection Sheet download
Updated at 8:20 am.
Want more information about the Stock Selection Sheet?
Legends - Click me
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
No comments:
Post a Comment