** 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 France off the most.
Economic Calendar
SPY - Still moving higher and trading at the highs. So far no sign of sellers and before a break up, it would be nice some kind of consolidation or pull back.
1-) Bearish (34%) - World markets are on the red and I believe the market need to rest for a while before breaking up. If start trading below 168.25 this scenario start to come into play. Overall we would still be in a bull market even with a move down so take your profits on the short trades.
2-) Neutral (33%) - The fact that it is Friday suggests a more sideways move. This would be a very low volatility scenario so taking smallers profits is wise. The market could become choppy.
3-) Bullish (33%) - For it to be trusted a lot of volume must be done. The more likely scenario would be for it to move higher and fail, coming back below 169.25 / 169.00. Dont´trust too much this up move and keep in mind it could reverse fast.
Long Term Bias: Neutral Bullish
Short Term Bias: Neutral
Updated at
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