** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are lower today with shares in London off the most.
- 14:00 - FOMC Meeting Minutes
- 16:10 - Fed Chairman Bernanke Speaks
Economic Calendar
1-) Neutral Bearish (50%)- even know this is a bearish move, if it can hold above the 163.50, this move would be a pull back and have bullish long term implications. It is the most expected scenario.Trade on the short side, but flip it to long once the l63.50 is tested.
2-) Neutral (20%) - this is a very low volatile scenario and best to avoid trading. Only go for great opportunities and smaller profit targets.
3-) Bullish (10%)- Unlike to happen cause market has moved up too much. Even if the 160.00 is tested, do not get long for bigger profits. Market needs to rest first before making a new strong up move.
4-) Bearish (20%) - This scenario would be a development from scenario #1 and have bearish implications meaning the break up of the down trend was a fake one and the down trend will continue. If this happens favor short trades.
Long Term Bias: Neutral Bullish
Short Term Bias: Bearish
Updated at 7:35
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