Daily AM Prep - July, 23

** Preparation for Morning Session**

MARKET CONDITIONS

World 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
No comments:

Daily AM Prep - July, 22

** Preparation for Morning Session**

MARKET CONDITIONS

World 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
No comments:

Daily AM Prep - July, 19

** 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 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
No comments:

Daily AM Prep - July, 18

** Preparation for Morning Session**

MARKET CONDITIONS

World 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

SPY - Did not move much yesterday, even after FED announcement. Today there is another one scheduled to start at 10:00 and investors will wait before making any big plays.
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
No comments:

Daily AM Prep - July, 17

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are mixed today. Stock markets were set for a cautious start Wednesday as investors wait for further comments from the U.S. Federal Reserve chairman, Ben Bernanke.

  • 10:00 - Fed Chairman Bernanke Testifies - High volatility expected

Economic Calendar



SPY - Broke the shorter term up trend, but is still in an up trend. Currently prices are at the top of the longer term range. Market should wait for FED Chairman to speak before making any moves. High volatility is expected today.
1-) Neutral - Price should hold between 168.25 and 166.75 till FED´s announcement. After that need to identify which way the market will move. Be careful with the volatility.
2-) Bearish - since on the long time frame we are at the top of the range, some selling pressure at this level is expected. 165 zone should provide some support for this down move. This is expected only after the announcement. If happens before, we could see it move back up fast.
3-) Bullish - At this point a bullish up move is likely to be a fake break out. The 169.00 level is the resistance to the up move and market has moved quite a bit on the past weeks. For this up move to be trusted some consolidation or pull back should happen first.

Long Term Bias: Neutral Bullish
Short Term Bias: Bearish

Updated at 7:40

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, 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:
Subscribe to: Posts (Atom)