** 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.
Economic Calendar
SPY - Market has been in trend for a couple days. The range that was broken had an amplitude of 6.5 points (160 - 153.50). The target for the up move is the range extended, so 160 + 6.5 = 166.50. We are getting closer to that level. This does not mean the market will stop there, but we can consider that some people will take profits around this area. From the up move of the past few days, we can see that the market worked it´s way up on the upper band of this channel, on a slow move, and so far there is no reason to think it would change this pattern. Some correction/profit taking is expected on a short time frame, but the bearish sign only if brakes down the up channel. This brake would most likely put the market back into a range mode before going bearish.
Bias: Bullish to Neutral
Accuracy: 80%
AM Stock Selection Sheet download - if market moves to the upside there are some good trades to be made.
Updated at 8:35
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