Morning Notes – Monday August 12, 2019

Directional Bias For The Day: S&P Futures are lower; The odds are for a down day with elevated volatility – watch for break above 2009.25 for change of fortune No key economic data due: Markets Around The World Markets in the East closed mostly higher – Hong Kong was closed; Tokyo, Mumbai and Singapore were…

Morning Notes – Friday August 9, 2019

Directional Bias For The Day: S&P Futures are lower; Drifting down since NYSE close The odds are for a sideways to a down day with elevated volatility – watch for break above 2935.75 for change of fortune Key economic data due: PPI (est. 0.2%; prev. 0.1%) at 8:30 AM Core PPI ( est. 0.2%; pre.…

Morning Notes – Thursday August 8, 2019

Directional Bias For The Day: S&P Futures are higher; Near the upper bound of a symmetrical triangle The odds are for a sideways to an up day with elevated volatility – watch for break below 2881.25 for change of fortune Key economic data due: Unemployment Claims (209K vs. 215K est.; pre. 217K) at 8:15 AM…

Morning Notes – Wednesday August 7, 2019

Directional Bias For The Day: S&P Futures are lower; Double top formation on 30-minute chart; broke below the intermediate low of two highs; 61.8% extension target is near 2836.00 level The odds are for a down day with elevated volatility – watch for break above 2870.50 for change of fortune No key economic data due…

Morning Notes – Tuesday August 6, 2019

Directional Bias For The Day: S&P Futures are higher but have recovered only 20% of Monday’s decline The odds are for an up day with elevated volatility – watch for break below 2831.50 for change of fortune Key economic data due: JOLTS Job Openings (est. 7.34M; prev. 7.2M) at 10:00 AM IBD/TIPP Economic Optimism (est.…

Morning Notes – Monday August 5, 2019

Directional Bias For The Day: S&P Futures are sharply lower The odds are for a down – watch for break above 2895.25 for change of fortune Key economic data due: Final Service PMI (4est. 52.2; prev. 52.2) at 9:45 AM ISM Non-Manufacturing OMI (est. 55.5; prev. 55.1) at 10:00 AM Markets Around The World Markets…