Daily PM Prep - May, 17


** Preparation for Closing Session **

MARKET CONDITIONS


SPY - No big changes from the morning session. Market is neutral as expected. Just review morning comments cause the idea is the same.
Bias: Neutral
Accuracy: 50% - market broke the top of the range and target.

PM Stock Selection Sheet download - not much going on. Trade lighter today.
Updated at 13:30

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, 17

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished broadly higher today with shares in China leading the region. European markets are higher today with shares in London leading the region. Germany is neutral, but China closed strong.

Economic Calendar



SPY - Yesterday market did not move much and today I do not expect big moves either. My expectation is a sideways market trading between 166.45 and 165 / 164 zone. The break above 166.50 is possible, but I do not believe it will happen today. A consolidation around this area would bring more conviction to this break up. An intraday bearish sentiment (in a long term bullish market) could happen if we break down below 164.50. The target for this down move is the potential point of control at 163.25 and the base of the up channel.
Bias: Neutral
Accuracy:

AM Stock Selection Sheet download - not much going on today. Best ideas selected and analysed.
Updated at 8:30

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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