** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished broadly higher today with shares in Japan leading the region. European markets are mixed. The FTSE 100 is higher by 0.47%, while the DAX is leading the CAC 40 lower.
- 08:30 - Nonfarm Payrolls - Bearish expectation
- 08:30 - Unemployment Rate - Bullish expectation
SPY - Market is moving inside a range between 160.25 | 162.25. Not many clues of where it should move next.
1-) Neutral (36%) - the only reason this scenario has a greater chance of happening is because today is Friday and markets tend to move less. Play long and short trades, favoring trades at the extreme of the the range.
2-) Bullish (32%) - The break up would suggests a 2 point move, but the longer down trend line is likely to hold this move. Play the long trades, but take profits if the trend line starts to hold price.
3-) Bearish (32%) - As the bullish scenario, the break down also suggests a 2 point move. Since the longer trend is down, this 2 point down move has a cleaner path to achieve this goal. A "pit stop" at 159.25 is possible, but need to evaluate the break to determine that. Favor short trades.
Long Term Bias: Bearish
Short Term Bias: Neutral
Updated at 7:50
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