** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets closed sharply higher today with shares in Japan leading the region. European markets are lower today with shares in France off the most.
Economic Calendar
SPY - On the past 2 days it moves up pre-market and during the day moves with smaller amplitudes. Short term up trend was broken yesterday, putting market into sideways move.
1-) Neutral (35%) - Could test yesterday high / low but remain trading inside this range. This would be an inside day with low amplitude. Trading in days like this one is not good because stocks tend not no move much either. Be very selective to enter the trade.
2-) Bearish (33%) - Short term trend was broken. if the low is taken out, next supports are: 160.25 and 159.50. If sellers are really strong, and start holding the trading activity below the 160.25 level, things may get ugly. Favor short trades on lost supports.
3-) Bullish (32%) - up move is possible as well, but there is a gap at this level, so likely it will find some resistance at this level. If the gap is closed, buyers still have the down trend to win. Favor long trades and some possible short on resistance levels would be good trading.
Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy:
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Updated at 7:40
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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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