** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are mixed. The DAX is higher by 0.15%, while the FTSE 100 is leading the CAC 40 lower. Important news release today:
- 15:00 - FOMC Statement
- 15:00 - Interest Rate Decision
- 15:30 - Fed Chairman Bernanke Speaks - Any comments from Bernanke suggesting that the Fed's bond-buying program end is near would likely lead to significant decline for US indexes.
Economic Calendar
SPY - Today is an important day, Bernake speaks at 15:30 and this is likely to move the market. So investors will likely wait for him to speak in order to open or close positions. Take that into consideration before open a trade. Increased volatility is also expected today.
1-) Neutral - till 2:30 p.m. market is likely to stay neutral inside the 166.50 / 165.25 level, cause investor will be waiting for Bernake to speak first. Look for volatility and for stocks that are moving with volume in this scenario.
2-) Bullish - Market could continue moving up, anticipating any good news from today´s event. In that case follow the reaction to the news on the long side, but be careful cause during his speech things may turn bad, if the expected news is not confirmed.
3-) Bearish - At the open I don´t think this scenario is likely to happen . This will only happen if Fed's bond-buying program is turned off. There one situation that should be considered: the program is turned off and the reaction is positive. This would mean market is extremely strong.
Long Term Bias: Neutral
Short Term Bias: Neutral / Bearish
Accuracy: 50%
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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