** Preparation for Closing Session **
MARKET CONDITIONS
SPY - Moved into expected scenario #2 from morning preparation, which favored short trades. Likely to stay inside the 160 / 161.50 range today.
1-) Neutral (50%) - since it´s Friday, the expectation is for market to trade between the 160.00 and 161.50 levels till the close.
2-) Bearish (30%) - If the low of the day is taken out, it could move to next support level at 159.50. Would be good to trade on the short side, but would not much room. Watch as it get´s close to the 159.25 level to see if can break below.
3-) Bullish (20%) - If it take the high of the previous day and hold above, then it would move into this scenario which would favor long trades.
Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy:
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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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