Daily PM Prep - June, 28

** Preparation for Closing Session **

MARKET CONDITIONS



SPY - Moved into expected scenario #2 from morning preparation, which favored short trades. Likely to stay inside the 160 / 161.50 range today.
1-) Neutral (50%) - since it´s Friday, the expectation is for market to trade between the 160.00 and 161.50 levels till the close.
2-) Bearish (30%) - If the low of the day is taken out, it could move to next support level at 159.50. Would be good to trade on the short side, but would not much room. Watch as it get´s close to the 159.25 level to see if can break below.
3-) Bullish (20%) - If it take the high of the previous day and hold above, then it would move into this scenario which would favor long trades.
Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy: 

PM Stock Selection Sheet download
Updated at 12:30

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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, 28

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets closed sharply higher today with shares in Japan leading the region. European markets are lower today with shares in France off the most.

Economic Calendar



SPY - On the past 2 days it moves up pre-market and during the day moves with smaller amplitudes. Short term up trend was broken yesterday, putting market into sideways move.
1-) Neutral (35%) - Could test yesterday high / low but remain trading inside this range. This would be an inside day with low amplitude. Trading in days like this one is not good because stocks tend not no move much either. Be very selective to enter the trade.
2-) Bearish (33%) - Short term trend was broken. if the low is taken out, next supports are: 160.25 and 159.50. If sellers are really strong, and start holding the trading activity below the 160.25 level, things may get ugly. Favor short trades on lost supports.
3-) Bullish (32%) - up move is possible as well, but there is a gap at this level, so likely it will find some resistance at this level. If the gap is closed, buyers still have the down trend to win. Favor long trades and some possible short on resistance levels would be good trading.


Long Term Bias: Bearish
Short Term Bias: Neutral 

Accuracy:

AM Stock Selection Sheet download
Updated at 7:40

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
No comments:
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