** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished lower today with shares in Japan leading the region.European markets are mixed to lower. It is a holiday in Norway, Switzerland and Indonesia.Interest Rate Decision in Great Britain and Initial Jobless Claims to be released in US before market opens.
Economic Calendar
SPY - Market is still trending up after the range break. It is unlikely that this is a fail break at this point. Market is respecting a channel up in the 5 minute chart that most likely will be broken today. After a couple days up, some profit taking would be healthy. The 161.25 zone (as a confluence of supports) should work as a support for this correction and must watch how market behaves around this area. If we respect the 5 minute channel slow up move may take place. The break of the 60 minute channel down is the only bearish sign to watch for.
Bias: Neutral Bullish
Accuracy: 85%
AM Stock Selection Sheet download - a lot of good stocks to trade today. Choose the best ones and stick to them.
Updated at 7:30
Want more information about the Stock Selection Sheet?
Legends - Click me
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
No comments:
Post a Comment