Daily PM Prep - May, 07


** Preparation for Closing Session **

MARKET CONDITIONS



SPY - Market is still holding above the previous range in a consolidation and in trend up mode. The shorter trend line up was tested and held, but market was not ready to continue the up move as expected. We are still bullish waiting for the market to break the flag up. The bias will only change to bearish if the longer trend line is broken.
Bias: Bullish
Accuracy: 100%

PM Stock Selection Sheet download - most of the stocks moved sideways today. Not much during the morning session and no momentum plays (no order flow). For the afternoon we select the first 20 stocks to trade and set up alerts.
Updated at 12:45

Want more information about the Stock Selection Sheet?
Legends - Click me
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
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Daily AM Prep - May,07


** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished broadly higher today with shares in Japan leading the region.European markets are higher today with shares in Germany leading the region. Germany is the strong economy, so it is important.

Economic Calendar



SPY - Is consolidating above the previous broken range and in trend move. Yesterday was a sideways day, after a strong up move. As long we respect the smaller trend line up, market has momentum up. Markets around the world are positive and SPY is gaping up, so we expect the up move to continue. If smaller trend is broken, the trend is still up. For this to change the longer trend line must be broken. The size of the broken range projected up is the expected move.
Bias: Bullish
Accuracy:

AM Stock Selection Sheet download - no pre-market volume, so momentum trade at the open is under evaluation. Only if we see a fast order flow.
Updated at 07:48

Want more information about the Stock Selection Sheet?
Legends - Click me
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
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