Morning Notes – Thursday April 30, 2020

Directional Bias For The Day: S&P Futures are lower; moving down from 2965.00 at 0:15 AM to 2925.00 by 8:45 AM The odds are for a down day with elevated volatility – watch for break above 2952.25 for change of fortune Key economic data due: Unemployment Claims ( 3839K vs. 3500K est.; prev.4442K) at 8:30…

Morning Notes – Wednesday April 29, 2020

Directional Bias For The Day: S&P Futures are higher; moving sideways since 9:30 PM after bouncing up from NYSE close on Tuesday Broke above Double Bottom on 15-minute charts at 8:30 AM Economic news will have significant impact on price-action The odds are for an up day with elevated volatility – watch for break above…

Morning Notes – Tuesday April 28, 2020

Directional Bias For The Day: S&P Futures are higher; moving sideways to up since 5:45 AM after moving up from 12:00 AM The odds are for an up day – watch for break below 2898.25 for change of fortune Key economic data due: Good Trade Balance (-64.2B vs. -55.0B est.; prev. -59.9B) at 8:30 AM…

Morning Notes – Monday April 27, 2020

Directional Bias For The Day: S&P Futures are higher; moving up since 1:00 AM on Friday from 2755.25 and after making a Bullish Divergence on 15-minute chart A symmetrical triangle is emerging on 15-minutes chart; a break below it will be short term bearish The odds are for an up day – watch for break…

Morning Notes – Friday April 24, 2020

Directional Bias For The Day: S&P Futures are higher; moving up since 1:00 AM from 2755.25 and after making a Bullish Divergence on 15-minute chart The odds are for an up day with elevated volatility – watch for break below 2793.50 for change of fortune Key economic data due: Durable Goods Orders (-14.4% vs. -12.0%…

Morning Notes – Thursday April 23, 2020

Directional Bias For The Day: S&P Futures are little changed; mostly moving sideways since 1:30 PM on Wednesday with a 30-point range The odds are for a sideways to down day with elevated volatility – watch for break above 2805.75 and break below 2773.00 for clarity Key economic data due: Unemployment Claims (4427K vs. 4350K…

Defensive Sectors and NASDAQ Are Leading The Market Higher

NASDAQ Is The Best Performing U.S. Index Prior to the COVID-19 induced market collapse, most major U.S. indices were making all-time highs (see Figure 1). Dow Jones Transportation Average (DJT) and S&P 500 Small Caps were two who did reach their respective highs that they made in October 2018.┬áThe February-March saw all indices to sharply…

Morning Notes – Wednesday April 22, 2020

Directional Bias For The Day: S&P Futures are higher; rising since 8:00 PM The odds are for an up day with elevated volatility – watch for break below 2728.25 for change of fortune Key economic data due: HPI ( 0.4% est.; prev. 0.3%) at 9:00 AM Directional Bias Before Open: Weekly: In Correction Daily: In…

Morning Notes – Tuesday April 21, 2020

Directional Bias For The Day: S&P Futures are lower; fresh leg down since 3:00 AM; The odds are for a down day with elevated volatility – watch for break above 2778.75 for change of fortune Key economic data due: Existing Home Sales ( 5.27M est.; prev. 5.77M) at 10:00 AM Directional Bias Before Open: Weekly:…

Morning Notes – Monday April 20, 2020

Directional Bias For The Day: S&P Futures are lower; fresh leg down since 12:00 AM; The odds are for a down day with elevated volatility – watch for break above 2860.25 for change of fortune No key economic data due: Directional Bias Before Open: Weekly: In Correction Daily: In Correction 120-Min: Side-Up 30-Min: Up-Side-Down 15-Min:…