Daily AM Prep - July, 16

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished higher today with shares in Japan leading the region. European markets are lower today with shares in France off the most. 

  • 08:30 - Core CPI (MoM) - Neutral Expectation


Economic Calendar


SPY - Keeps moving higher, but volume is starting to dry out. Very close to the recent high at 169.00 level. Some selling is expected at this level and a volatility increase would be a sign of sellers.
1-) Bearish (40%) - If start trading below 167.75 and holding, breaking the shorter time frame up trend, should test the next level at 166.50. This should provide support for this up move. Favor short trades, but close them when the support is reached. This would be healthy for a potential break up latter on.
2-) Bullish (40%) - We are very close to the high, so a test of this level is also likely scenario. Sellers should step in at this level and bring prices down, so don´t get too attached to long positions.
3-) Neutral (20%) - unlikely to happen and would start a narrow consolidation. Too narrow to hold on a potential break up of the high. This is a very low volatility scenario and don´t expect many opportunities.

Long Term Bias: Neutral Bullish
Short Term Bias: Bearish

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
No comments:

Daily AM Prep - July, 15

** Preparation for Morning Session**

MARKET CONDITIONS

World 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
No comments:

Daily AM Prep - July, 12

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are higher today with shares in Germany leading the region. 

Economic Calendar



SPY - Most of this up move happened at the open, with prices gaping up. During the day a relative low trading range (low volatility). The target area for the up move has been achieved and we start entering a sellers zone.
1-) Neutral (40%) - since it´s Friday and markets tend to move less, so the first scenario is for it to stand where it is. Could break down the first up trend (momentum) an test the second trend.
2-) Bearish (30%) - It has  been moving up for some days now and entering the sellers zone. Need a lot of bulls to push this zone, but the bearish scenario start to become more likely. Remember it has a lot of support to beat still, so take short profits when reaching this support zones.
3-) Bullish (30%) - We could have a final push up to test the recent high or even try to start this move and fail. If we get above 167.50 and back, a potential failure and consequently prices would move lower.

Long Term Bias: Neutral
Short Term Bias: Neutral / Bullish

Updated at 7:50

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
No comments:

Daily AM Prep - July, 11

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished broadly higher today with shares in China leading the region. European markets are broadly higher today with shares in Germany leading the region.

  • 08:30 - Initial Jobless Claims - Bullish expected

Economic Calendar


SPY - Yesterday could be considered an inside day. There was a spike up when the FOMC Meeting Minutes where released, but prices move back below the high of the previous day.
1-) Neutral (30%) - As long as the market is between 165.25 and 164.20 this scenario is in play. The fact that it is holding above the down trend is an important bullish sign. This could develop into a low volatile day. Favor long plays if the market is holding this level.
2-) Bullish (30%) - The up move is possible and considering that the world markets are trading higher today, the SPY could gap up on the open. The next resistance levels are 166.00, 166.50, 167.75. Favor trades on the long side.
3-) Neutral Bearish (25%) - Even knowing this is a bearish short term move, on the long term would be just a pull back from the break of the trend line. Could trade on the short side, but don´t go for longer targets.
4-) Bearish (15%) - The sellers are not in control of this market so this is a low possibility scenario. If this happen, start looking for shorts.

Long Term Bias: Neutral Bullish
Short Term Bias: Neutral / Bullish

Updated at 7:30

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
No comments:

Daily AM Prep - July, 10

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are lower today with shares in London off the most. 

  • 14:00 - FOMC Meeting Minutes
  • 16:10 - Fed Chairman Bernanke Speaks 


Economic Calendar

SPY - Broke the long term down trend and the question is: will it hold? This change the long term scenario to a neutral and prices are inside a bigger range. A pull back from this level to test the broken down trend would be healthy.
1-) Neutral Bearish (50%)- even know this is a bearish move, if it can hold above the 163.50, this move would be a pull back and have bullish long term implications. It is the most expected scenario.Trade on the short side, but flip it to long once the l63.50 is tested.
2-) Neutral (20%) - this is a very low volatile scenario and best to avoid trading. Only go for great opportunities and smaller profit targets.
3-) Bullish (10%)- Unlike to happen cause market has moved up too much. Even if the 160.00 is tested, do not get long for bigger profits. Market needs to rest first before making a new strong up move.
4-) Bearish (20%) - This scenario would be a development from scenario #1 and have bearish implications meaning the break up of the down trend was a fake one and the down trend will continue. If this happens favor short trades.

Long Term Bias: Neutral Bullish
Short Term Bias: Bearish

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
No comments:

Daily AM Prep - July, 09

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished broadly higher today with shares in Japan leading the region. European markets are higher today with shares in London leading the region.

Economic Calendar


SPY - Gap up yesterday and did not move much from there. Low volatile day testing the long term down trend line. Where it go from here is very important: will the sellers take over and the down trend re-start or the buyers keep controlling the market put it into a more neutral state?
1-) Bullish (40%) - World markets on the green and the break of yesterday´s high could put market into an up momentum. Volume need to step in for the break of the down trend.
2-) Bearish (40%) - The short term up trend needs to be broken first, but for the market to confirm the down trend being re-taken need to go below 162.25. Otherwise, this could be just a pull back from the range break up.
3-) Neutral (20%) - dont´believe much that this will happen. This scenario also contemplates the possibility of the market trying to close the previous gap and going back above the 163.50 level.


Long Term Bias: Bearish
Short Term Bias: Bullish 

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
No comments:

Daily AM Prep - July, 08

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished sharply lower today with shares in China leading the region. European markets are broadly higher today with shares in Germany leading the region.

  • 08:30 and 9:30 - ECB President Draghi Speaks

Economic Calendar



SPY - Has broken the short term range to the up side and it is likely to continue this away to test the longer term down trend.
1-) Bullish (40%) - If it continues moving higher, the longer term down trend is likely to attract sellers. Be careful around the 164.00 level with opened positions on the long side. Keep a tight stop. After the test have to re-evaluate.
2-) Bearish (40%) - If prices get back below 162.25, then most this would be a fake break up, meaning prices are likely to break to the down side of the range (if buyers don´t hold prices again). The longer term down trend will help push prices down. Favor short trades and longer targets.
3-) Neutral (20%) - After the break of the range, this scenario is unlikely, but if happens could have bullish implications. The longer it trades above the 162.25 level, the likely this value will be accepted and this could go on this it test the longer term trend. Since it is a low volatile scenario, stay away from big trades and take profits faster.

Long Term Bias: Bearish
Short Term Bias: Bullish

Updated at 7:30

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
No comments:
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