Daily PM Prep - April, 25

** Preparation for Closing Session **

MARKET CONDITIONS



SPY - During the morning was very heavy ( had trouble going up) and choppy. I got in into some momentum trades at the open, but the best choice was to stay put and do not trade. My trading ideas were not working today.
1-) Neutral (85%) - The short term down trend was broken putting market in a sideways move, but so far it had a very low volatility and was not favoring my trading ideas today. if market start to trade above today´s high at 158.65, look for long trades. That´s the plan.

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

PM Stock Selection Sheet download
Updated at 12:30

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 - June, 25

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are broadly higher today with shares in France leading the region.

  • 08:15 - ECB President Draghi Speaks
  • 08:30 - Core Durable Goods Orders (MoM) - Bearish
  • 10:00 - New Home Sales - Bullish


Economic Calendar



SPY - The expected bounce did not happen until afternoon and the market has moved lower, so it is weaker than previously expected. Europe is in the green, so there is a greater chance of some short term bullish action. For a bullish bias to come into play, must break up the 159.50 level and hold.
1-) Neutral (50%) - this was yesterday´s most expected move, that started in the afternoon and seems to continue today. The short term down trend must be broken putting market in a sideways move with good amplitude. If the amplitude is not confirmed and low volatility comes into play, do not trade.
2-) Bearish (35%) - Continue moving lower is possible, but it has moved a lot lower so far, so a rest would be healthy. Plays the extremes of the possible range, favoring short side is a good thing
3-) Bullish (15%) - After holding lower yesterday, below the bottom of the channel, seems the market is weaker than expected. So strong up move would be unexpected.

Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy: 90%

AM Stock Selection Sheet download
Updated at 7:25

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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