** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished broadly lower today with shares in Japan leading the region.European markets are mixed. To be released before market opens: GDP (QoQ) and Initial Jobless Claims.
Economic Calendar
SPY - Yesterday in the afternoon market broke a short term down trend inside this longer term range that is in formation, because of that our short term bias is bullish. This up move may find resistance at one of the following levels: 165.50, 166.50, 167.50 or 169.00 and could provide a clearer view of the range. Also this up move may define the type of day we will have today.
The 164.00 level is still a key level. If we break below this level, a confirmation of a Lower High suggests a more bearish formation for the overall market. At this point, since on a weekly chart we are up trending, this scenario is less likely.
Long Term Bias: Neutral
Short Term Bias: Neutral to Bullish
Accuracy: 100%
AM Stock Selection Sheet download
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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