** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are mixed today. Core CPI, CPI and Initial Jobless Claims to be released before market opens. Since market is strong, bad numbers should not affect it that much.
Economic Calendar
SPY - The target for the up move from the break of the previous range has been tested and sellers held. If big volume come in, breaks above and hold, market is very bullish. I believe prices today will be neutral, trading around 166.5 and 164.50. Next couple days we will test the 163.25 area and the point of control. This would be healthy for the market. The only bearish signal is the break down of the bottom of the long term up channel and this move probably will turn into a sideways market before turn bearish.
Bias: Neutral Bullish
Accuracy: 100%
AM Stock Selection Sheet download - not too many stocks to watch to day. Market is likely to be slow.
Updated at 8:15
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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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