** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished broadly higher today with shares in Hong Kong leading the region. European markets are higher today with shares in London leading the region.
Economic Calendar
SPY - Pushing toward record highs. Volatility is still low and as long this scenario doesn´t change and sellers step in, prices will continue moving higher.
1-) Bullish (40%): until sellers don´t show up prices will keep moving higher in a low volatility scenario. The main reference point for a change is the 169.25 level. If start trading below it scenario #2 comes into play. Keep favoring long trades.
2-) Neutral (40%): If the up trend is broken and start trading below 169.25 this scenario is in play. Trading the extremes and go for shorter targets.
3-) Bearish (20%): For this scenario to come into play, it has to first change to scenario #2. The key level is 166.75 and the volatility needs to increased. Don´t get too much excited with the short trades. Take profits as the support at 166.75 is tested.
Long Term Bias: Neutral Higher
Short Term Bias: Higher
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