Morning Notes – Monday July 22, 2019

Directional Bias For The Day: S&P Futures are higher; drifting higher since 4:40 PM on Friday in an upsloping flag, which is usually bearish The odds are for a sideways to down day from pre-open levels – watch for break above 3001.00 for change of fortune No key economic data due: Markets Around The World…

Morning Notes – Friday July 19, 2019

Directional Bias For The Day: S&P Futures are higher; mostly moving sideways near 3000.00 since 6:00 PM on Thursday after bouncing¬† from lows near 2975.00 The odds are for an day – watch for break below 2996.25 for change of fortune Key economic data due: Prelim UoM Consumer Sentiment ( est. 98.6; prev. 98.2 )…

Morning Notes – Thursday July 18, 2019

Directional Bias For The Day: S&P Futures are lower; mostly moving down since 8:00 AM on July 16; up-sloping bearish flag since 9:00 PM The odds are for a down to sideways day – watch for break above 2993.25 for change of fortune Key economic data due: Philly Fed Manufacturing Index ( est. 5.0 ;…

Morning Notes – Wednesday July 17, 2019

Directional Bias For The Day: S&P Futures are little changed; mostly moving sideways since 10:30 PM on Sunday The odds are for a to sideways to down day – watch for break below 3021.75 for change of fortune Key economic data due: Building Permits ( est. 1.30M; prev. 1.29M ) at 8:30 AM Housing Starts…

Morning Notes – Monday July 15, 2019

Directional Bias For The Day: S&P Futures are higher; moving up since 5:00 AM on July 9 The odds are for an up to sideways day – watch for break below 3010.75 for change of fortune Key economic data due: Empire State Manufacturing Index ( 4.3 vs. 1.6; prev. -08.6) at 8:30 AM Markets Around…

Morning Notes – Wednesday July 10, 2019

Directional Bias For The Day: S&P Futures are lower; moving lower since 8:30 PM on Tuesday The odds are for a sideways to up day – watch for break above 2987.50 and break below 2971.25 for clarity Key economic data due: Final Wholesale Inventory ( est. 0.4%; prev. 0.4%) at 10:00 AM Fed Chair’s Humphrey-Hawkins…

Morning Notes – Tuesday July 9, 2019

Directional Bias For The Day: S&P Futures are lower; moving sideways since 11:30 PM on Monday The odds are for a sideways to down day – watch for break above 2979.75 and break below 2963.50 for clarity Key economic data due: JOLTS Jobs Openings (est. 7.51M; prev. 7.45M) at 10:00 AM IBD/TIPP Economic Optimism (…