** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished broadly lower today with shares in China leading the region. European markets are higher today with shares in France leading the region. Be aware of the following:
- 07:45 - Interest Rate Decision
- 08:45 - ECB Press Conference
- 08:30 - Initial Jobless Claims
* I´ve been making some changes to my software package and tools. Have not decided yet which software to use for the SPY analysis.
SPY - Has been coming down, looking for buyers on a down trend channel. Will the gap area provide this support? If buyers start holding this gap area, than the first scenario is the market to go into a sideways move till it starts to break the down trend and we need to re-evaluate to see were it could go from there. IF the buyers are stronger, than this area will be hold and prices will immediately move higher on a strong up move, but I don´t think the overall market conditions will support this up move. The other possibility is for it to continue moving down, but even for this down move, the market will need some kind of consolidation first.
Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy: 90%
AM Stock Selection Sheet download - also going through some changes. The way it is now will make the alert setting a lot more easy and same time to me.
Updated at 8:55
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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