** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are mixed.
- 10:00 - Existing Home Sales - Bullish expectation
Economic Calendar
SPY - Closed the week at the highs, but on low volume. Many stocks are to report this week these numbers could influence the market for a while. Market has been on this low volatility scenario and no signs of change yet.
1-) Neutral (35%): Monday is usually a low volatility day. As long as the market is trading between 168.25 and 169.25 this scenario is in play. Favor long trades since the market has been moving up.
2-) Bullish (33%): If start trading above 169.25 and holding, since we are on a low volatility market, it should go as high as 170.25 unless volatility start to increase. Keep favoring long trades.
3-) Bearish (32%): If start trading below 168.25 this scenario is in play. Could trade on the short side, but the next support at 166.75 is likely to hold prices, so don´t get greed on the short positions.
Long Term Bias: Neutral Bullish
Short Term Bias: Neutral
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