** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are higher today with shares in Germany leading the region.
Economic Calendar
SPY - Most of this up move happened at the open, with prices gaping up. During the day a relative low trading range (low volatility). The target area for the up move has been achieved and we start entering a sellers zone.
1-) Neutral (40%) - since it´s Friday and markets tend to move less, so the first scenario is for it to stand where it is. Could break down the first up trend (momentum) an test the second trend.
2-) Bearish (30%) - It has been moving up for some days now and entering the sellers zone. Need a lot of bulls to push this zone, but the bearish scenario start to become more likely. Remember it has a lot of support to beat still, so take short profits when reaching this support zones.
3-) Bullish (30%) - We could have a final push up to test the recent high or even try to start this move and fail. If we get above 167.50 and back, a potential failure and consequently prices would move lower.
Long Term Bias: Neutral
Short Term Bias: Neutral / Bullish
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