Daily AM Prep - July, 26

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are mixed.

Economic Calendar



SPY - Staring to form a short term range. Since it´s Friday and with this low volatility scenario should stay inside the range.
1-) Neutral (50%) - As long as it is inside the 169.75 / 168.25 range this scenario is in play. Overall favoring the long positions is better, but allowed to take trades on the short side.
2-) Bullish (25%) - It is a little early for it to break up and continues moving higher, a longer consolidation would be better. Take the long trades but don´t be too greed on the targets.
3-) Bearish (25%) - Below 168.25 and holding put this scenario into play. Next support at 166.75.

Long Term Bias: Neutral Bullish
Short Term Bias: Neutral 

Updated at 7:45

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, 25

** Preparation for Morning Session**

MARKET CONDITIONS

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

  • 08:30 - Core Durable Goods Orders (MoM) - Neutral bias
  • 08:30 - Initial Jobless Claims - Bearish Bias

Economic Calendar



SPY - World indexes are all red and SPY could follow. So far this down move is just an expected pull back. When buyers step in and start holding prices should be a good place to jump in.
1-) Neutral (40%): Market developing into a trading rage at the top could be a good setup up for breaking up. As long as it is trading between 168.25 and 169.75 this scenario is in play. Take profits at the targets as market is in a trading range.
2-) Bearish (40%): This is a short term bearish scenario but would still be considered a pull back. The 166.75 level should provide some support. Take profits of short positions at this level and prepare to change bias and start building into long positions.
3-) Bullish (20%): Unlikely and not to be trusted. Market needs to develop a range to build strength before breaking up. Could try fading setups.

Long Term Bias: Neutral Bullish
Short Term Bias: Neutral / 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, 24

** Preparation for Morning Session**

MARKET CONDITIONS

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

  • 10:00 - New Home Sales - Bullish bias

Economic Calendar


SPY - Did not move much yesterday and the low volatility continues. Market internals behaved a little different yesterday, so change might be in the way.
1-) Neutral (50%) - the levels are very clear for the sideways move: 169.75 and 168.25. If start to trade below 169.25 is the first sign. Go for shorter targets.
2-) Bearish (25%) - has to start at scenario #1 and take out the 168.25 level. Volatility has to increase for this move to be consistent. Re-evaluate when the level is reached. Go for short trades, but take profits when the support zone is reached.
3-) Bullish (25%) - Europe is on the green and this could cause prices to gap up on the open. The question is if they will hold. 169.75 is the key level for this up move and if comes back below this level be careful with the long positions.

Long Term Bias: Neutral Bullish
Short Term Bias: Neutral

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, 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:
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