** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished broadly higher today with shares in Japan leading the region.European markets are higher today with shares in France leading the region. Germany is also up, confirming the good expectation.Fed Chairman Bernanke speaks at 9:30, right on the open. This may increase volatility.
Economic Calendar
SPY - Still in trend mode, but showing signs that it is tired from going up and needs to rest. Yesterday we tested the base of the shorter up channel, but did not break below it. In case of a correction the 160.50 is now the confluence zone we expect the market to hold. World markets are green and despite the fact a correction is expected, the overall market is strong. The only thing that would change our bias is if the base of the longer channel was broken down, but prices are far from there.
Bias: Bullish to Neutral
Accuracy: 100%
AM Stock Selection Sheet download - not much pre-market volume, but there are good trading opportunities.
Updated at 8:20
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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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