** Preparation for Closing Session **
MARKET CONDITIONS
SPY - The short-term range we talked about in the morning preparation was broken up, suggesting the continuation of the up movement. The target for this break was the projection of the range to the upside (reached today). Unfortunatelly the sellers came back strong at the 169.00 level, taking prices very fast down. This may be the presence of long term sellers at this level. Up move now is likely to continue if the 169.00 is broken and prices start to hold above that level. There are some a potential ranges forming at the following prices for short term reference:
1-) 169.00 || 167.75
2-) 169.00 || 166.50
Closing prices above 167.75 would be good for the buyers.
Long Term Bias: Bullish
Short Term Bias: Neutral
Accuracy:
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Updated at 13:15
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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 afternoon sheet will be updated between 13:00 and 14:00
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 afternoon sheet will be updated between 13:00 and 14:00
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