About AM and PM preparation - Scenarios

I think it is important to explain the changes I am making to my AM and PM preparation, so people can understand it.
I want to make it clear that my idea with the morning sheet is not to forecast the market, but to be prepare for it. Some when they look at this chart may say: "Ok, you´ve guessed that the market could go higher, go neutral and go bearish. It´s impossible to be wrong!!!". That is true, but I do not care to be right or wrong. I am not a fortune teller,  that´s not my goal with this.

So you might ask, what I am trying to achieve with this?

My job as a trades is to be prepared for whatever happens and to make money from the opportunities the market throw at me. The more money the better, but the only problem is sometimes the market is just not good and the best thing to do is to stay out. If you avoid losing, you also make money.

I came to realize from my trades in the past that I do not trade well when the market is sideways moving very little. Market does not give me many (or any) good opportunities, so the best thing for me is to stay out. I could also try to find a different way to trade this type of market which is exactly what I am trying to work on.

Daily PM Prep - June, 10

** Preparation for Closing Session **

MARKET CONDITIONS

SPY - Is following the trading scenario #2 of the morning analysis. It is expected to remain neutral for the rest of the day. I do not see too much strength today. In days like this I do not trade well, so the best thing to do is to wait for something really great to happen.
1- Market to remain trading between correct day´s high and the 163.80 level. This could be a pull back from the channel break up, with follow up to the upside tomorrow. It depends how much it will pull back.
2- If market makes a new high today, we could test the 166.50 and the 167.75 level. This scenario would favor trades on the long side. New highs followed by consolidation above it could provide good entries.
3- This scenario is considered a neutral bearish and the gap at the chart must hold prices for it to provide trading opportunities. Could enter short at the begging of the move, but the 162.25 level must be watched, since prices could bounce back up fast.
4- Most bearish scenario and most unlike to me. If the 162.25 do not hold, buyers will be trapped, causing prices to fall fast to the previous support at 160.25 (maybe even lower). Favor short trades if this start to happens.

Long Term Bias: Neutral
Short Term Bias: Neutral bullish
Accuracy: 100%

PM Stock Selection Sheet download
Updated at 13:20

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

Columns - 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

Daily AM Prep - June, 10

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are mixed today, with DAX (Germany) positive. 

Economic Calendar

SPY - Seems to be breaking up the down channel, going into a new pattern. Listed scenarios
1- Market takes the previous high and move up to next resistance levels at 166.50 / 167.75. This would favor long trades and is to me the mostly likely scenario.
2- A more neutral  approach is for it to trade around the point of control with low volatility. In this scenario trade only stocks that are moving and stays away from small open ranges
3- A test and reverse scenario would be for the market to break below the previous low, but find support at the 162.60 level and move back above the low. In this case, to go long on support plays are a good choice.
4- This is the more bearish scenario and to me the least possible. It takes the low of previous session and the 162.60 do not hold prices. Meaning this gap was a failure and bull would be trapped, causing a selling strong move down to test the 160.25, maybe even lower.

Long Term Bias: Neutral
Short Term Bias: Bullish / Neutral

Accuracy: 85%

AM Stock Selection Sheet download - I am adding some information into the sheet. Still under test.
Updated at 8:50

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

Columns - 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