** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are mixed today.
- 08:30 - Initial Jobless Claims - Bullish expectation
- 10:00 - Fed Chairman Bernanke Testifies
Economic Calendar
1-) Neutral (40%) - This scenario is likely to be in play before the FED announcement. Has to stay between 166.75 and 168.25.
2-) Bullish (30%) - A break up could happen today but would not be a strong signal. Need a pull back or some kind of consolidation before breaking higher, so consider it to be a fake break up.
3-) Bearish (30%) - If start trading below 166.75, the next support area is at 165.00 zone, but this move would be treated as a pull back. Take the short trades, but take profits as it gets close to 165 level.
Long Term Bias: Neutral Bullish
Short Term Bias: Neutral
Updated at 7:15
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