** Preparation 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 (-1.73%). Since Germany is the strongest economy of the euro region, this move down should be considered into the open today.
Economic Calendar
SPY - Sellers are present and holding prices on the past 4 days. We tried to move higher into a range yesterday, but that movement was stopped by sellers. If the 164.00 level is taken out, we will have a Lower High, confirming the sellers are stronger than the buyers. This is the key level for today, but it must hold below this level (not this test it). Considering that Europe Indexes are all red and Germany is leading the region, this is the mostly likely scenario. The other possible scenario is a more neutral one, that trade will be conducted between 165.50 and 164.00. For a bullish bias to come in, yesterday´s high need to be broken up.
Long Term Bias: Neutral
Short Term Bias: Bearish
Accuracy:
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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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