** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished higher today with shares in China leading the region. European markets are higher today with shares in France leading the region.
- 08:30 - Core Retail Sales (MoM) - Bullish expectation
- 08:30 - Retail Sales (MoM) - Bullish expectation
Economic Calendar
SPY - Keeps moving higher, but now it is into a sellers zone. Some volatility is expected at this level.
1-) Bullish (34%) - If we start to trade above 167.75 and holding, it is likely to test the previous high at 169.00. Favor long trades.
2-) Neutral (33%) - Considering it is Monday, the neutral day is possible as well. Must stay between 167.75 and 166.50 for this scenario to be valid.
3-) Bearish (33%) - If the 166.50 level is taken out, market may go into a bearish leg and close the gap. 165.25 level should provide support for this move. Go with short trades, but when the suppport is reached get out and look for long trades.
Long Term Bias: Neutral Bullish
Short Term Bias: Neutral
Updated at 8:00
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