Daily PM Prep - June, 03

** Preparation for Closing Session **

MARKET CONDITIONS



SPY - Not much has changed from morning analysis. Market is moving slowly down as expected and we had a morning session that rewarded the sellers. SPY already tried to go below friday´s low, but failed to continue down. There is a possibility of a neutral afternoon if we don´t hold below 166.60. An intraday bullish sign would be if we start trading above 164.25, but I think that is unlikely to happen today.
Long Term Bias: Neutral to Bearish
Short Term Bias: Bearish
Accuracy: 

PM Stock Selection Sheet download 
Updated at 13:15

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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
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Daily AM Prep - June, 03

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished broadly lower today with shares in Japan leading the region. European markets are lower today with shares in France off the most. ISM Manufacturing Index to be released during market hours at 10:00. Market is expecting no change for this index.

Economic Calendar



SPY - Last trading session market broke and close below the support level at 164.00 zone suggesting a confirmation of a Lower High formation (starting a down trend) because of that the expected scenario is for it to continue down until it find buyers. A potential down channel can be seen at the chart and this would put the 161.75 area as next support to be tested. A more bullish scenario would be if we can hold this gap up (with low volume so far). Still if this happens there is a down trend line (the top of the channel) to be broken putting us back into a long term neutral scenario.

Long Term Bias: Neutral to Bearish
Short Term Bias: Bearish

Accuracy: 100%

AM Stock Selection Sheet download
Updated at 8:10

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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