** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets closed sharply higher today with shares in China leading the region. European markets are sharply higher today with shares in London leading the region.
Economic Calendar
SPY - Markets around the world are green, after a holiday yesterday. Last week market made and inside day, that is breaking up today. If we stay above 166.00, there a good chance that we will test the 168.50 / 169.00 resistance again. If it does, we have to watch how it behaves around this level e re-evaluate. If market decides to turn back down, below 166.00, on a shorter-time frame it would be considered a failed break up, that could lead to a larger drop in prices below 164.00. A potential range is being formed between 169.00 and 164.00.
Long Term Bias: Neutral Bullish
Short Term Bias: Bullish
Accuracy: 100%
AM Stock Selection Sheet download - not much going on so far. Watch to see if there is a good pre-market move in any other stocks.
Updated at 7:55
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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
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
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