** Preparation for Closing Session **
MARKET CONDITIONS
SPY - Market is still in trend up mode and still respecting the 5 minute channel. I do not see it change too much today. Still expect this smaller channel to break down into some profit taking, maybe in the afternoon or tomorrow. This would be healthy to the market. The 161.25 zone should provide support for this move. The only bearish sign is a break down of the longer term channel. There is one scenario that I should have in the back of my mind: strong bullish sign if we break up the longer term channel. Lot´s of volume would be necessary.
Bias: Neutral Bullish
Accuracy: 100%
PM Stock Selection Sheet download - there are some good stocks to trade from in the afternoon.
Updated at 13:30
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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 afternoon sheet will be updated between 13:00 and 14:00
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 afternoon sheet will be updated between 13:00 and 14:00
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