Morning Notes – Friday September 21, 2018

Directional Bias For The Day: S&P Futures are higher to little changed; declining since 4:00 AM high of 2945.50 Odds are for an up day; watch for break below 2934.25 for change of fortune No key economic data due: Markets Around The World Markets in the East closed mostly higher – Mumbai was down European markets are higher Currencies: Up Down Dollar…

Morning Notes – Thursday September 20, 2018

Directional Bias For The Day: S&P Futures are higher; broke above a cup-with-handle pattern on 30-minutte charts at 7:00 AM Odds are for an up day; watch for break below 2916.25 for change of fortune Key economic data due: Philly Fed Manufacturing Index (22.9 vs. 17.5 est.) at 8:30 AM Markets Around The World Markets in the East closed mostly higher…

Morning Notes – Wednesday September 19, 2018

Directional Bias For The Day: S&P Futures are little changed; at a downtrend line from Tuesday’s high Odds are for an up day; watch for break below 2905.75 for change of fortune Key economic data due: Building Permits (1.23M vs. 1.31M est.) at 8:30 AM Housing Starts (1.28M vs. 1,24M est.) at 8:30 AM Markets Around The World Markets in…

Morning Notes – Tuesday September 18, 2018

Directional Bias For The Day: S&P Futures are little changed; at a resistance level Odds are for a down day to sideways move; watch for break above 2904.00 for change of fortune No key economic data due: Markets Around The World Markets in the East closed mixed – Shanghai, Hong Kong, Tokyo and Seoul closed up; Sydney, Singapore and Mumbai closed…

Morning Notes – Monday September 17, 2018

Directional Bias For The Day: S&P Futures are lower; a symmetrical triangle is emerging on 15-minute chart; Odds are for a sideways; watch for break above 2910.25 and below 2904.50 for clarity Key economic data due: Empire State Manufacturing Index (19.0 vs. 23.2 est.) at 8:30 AM Markets Around The World Markets in the East closed mostly lower – Sydney…

Advanced Retail Sales – August 2018

Key takeaway is that the retail sales were softer in August but the trend is still positive. Consumers maybe pausing after a strong spending in July. The seasonally adjusted Advanced Retail Sales for the month of August 2018 came a bit softer than expected. The advanced estimates came at $509.0 billion, which is an increase…

Morning Notes – Friday September 14, 2018

Directional Bias For The Day: S&P Futures are higher; declining from all time high of 2917.25 at 3:30 AM Breaking below above an descending triangle/double top on 6-minute chart Odds are for a sideways to an up day; watch for break above 2917.25 and below 2909.50 for clarity Key economic data due: Retail Sales (0.3% vs. 0.5% ets.) at 8:30 AM…

Consumer Price Index – August 2018

Key Takeaway: there was a moderation in the year-over-year growth rate for CPI – both Core and Headline – but that is unlikely to change Fed’s intention of two more rate hikes this year The Consumer Price Index increased by +0.2% in August on seasonally adjusted basis as compared to the expected increase of +0.3%…