Morning Notes – Friday April 28, 2017

Directional Bias For The Day: Futures are almost unchanged Within a narrow horizontal channel since12:30 PM on April 27 Channel upper limit 2388.75, lower limit 2383.00 – upper target 2394.50, lower target 2377.25 Odds are for a range bound day; watch for break above 2388.75 and break below 2383.00 for change of fortunes Key economic data: Advanced Q1 GDP – 0.7% vs.…

Morning Notes – Thursday April 27, 2017

Directional Bias For The Day: Futures are higher Breaking above a narrow horizontal channel – high 2384.75, low 2381.25 – at 7:00 AM; the 100% extension target is 2388.25 Break below 2381.25 by futures and below 2386.76 by cash index will be short term bearish Odds are for a down day to range bound; watch for break above 2390.25 for change of fortunes…

Morning Notes – Wednesday April 26, 2017

Directional Bias For The Day: Futures are unchanged Trading within a narrow range since 10:00 AM o April 25 Odds are for a range bound day with slight bias to the downside watch for break above 2389.25 and below 2382.25 for change of fortunes No key economic data to be released today Markets Around The World Markets in the East closed…

Morning Notes – Tuesday April 25, 2017

Directional Bias For The Day: Futures are higher Drifting higher since 11:30 AM on Monday Good chance of following through on Monday’s gap-up open Odds are for an up day; watch for break below 2371.50 for change of fortunes Key Economic Data: S&P/CS Composite-20 HPI (5.9% vs. 5.7% est.) at 9:00 AM and CB Consumer confidence and New Home Sales at 10:00…

Morning Notes – Monday April 24, 2017

Directional Bias For The Day: The futures are sharply higher Drifting lower since 6:00 AM high of 2376.75 Impact of French election Gapped up at week’s open; gap is preserved Odds are for an up day but range bound the U.S. session open; watch for break above 2376.75 and below 2366.75 for change of fortunes No significant economic data to be release Markets…

Morning Notes – Wednesday April 12, 2017

Directional Bias For The Day: The futures are down Drifting lower since 3:30 AM high of 2356.50; given up all gains of Asian session Previous day the index made a dragonfly doji, a slightly bullish pattern Odds are for a sideways to down day; watch for break above 2356.50 and below 2345.50 for change of fortunes Key economic data: Import…

Morning Notes – Friday April 7, 2017

Directional Bias For The Day: The futures are unchanged but higher following sharp decline of nearly 20 points during Asian session Fresh move higher since 5:30 AM Odds are for an up day; watch for break below 2347.50 for change of fortunes Key economic data: Non-Farm Payroll (est. 174K); avg. Hourly Earnings (est. 0.2%) and Unemployment Rate (4.7%) at 8:30 AM Markets Around…