Morning Notes – Thursday, August 17, 2023

Directional Bias For The Day: S&P Futures are a little higher at 8:00 AM; moving up within an up-sloping flag since 9:15 PM The odds are for an up day with elevated volatility – watch for a break below 4419.25 and the break below the up-sloping flag for a change of sentiments The major economic…

Morning Notes – Wednesday, August 16, 2023

Directional Bias For The Day: S&P Futures are a little higher at 8:00 AM; moving sideways to up within an up-sloping flag since 3:30 PM The odds are for a sidewyas to an up day with elevated volatility – watch for a break above 4467.25 or a break below 4448.00 for more clarity The major…

Morning Notes – Tuesday, August 15, 2023

Directional Bias For The Day: S&P Futures are lower at 8:15 AM; moving down since 9:15 PM – down more than 40 points; The odds are for a down day with elevated volatility – watch for a break above 4492.00 for a change of sentiments The major economic data report due during the day: Retail…

Morning Notes – Monday, August 14, 2023

Directional Bias For The Day: S&P Futures are lower at 9:00 AM; reversed direction from the European open – down more than 30 points since 4:00 AM The odds are for a down day with elevated volatility – watch for a break above 4495.25 for a change of sentiments No major economic data report is…

Morning Notes – Friday, August 11, 2023

Directional Bias For The Day: S&P Futures are lower at 9:00 AM; broke below a Pennant at 8:30 AM – the next three down targets are near 4458.00, 4448.00, and 4430.00 respectively The odds are for a down day with elevated volatility – watch for a break below 4487.00 for a change of sentiments The…

Morning Notes – Thursday, August 10, 2023

Directional Bias For The Day: S&P Futures are higher at 9:00 AM. Higher volatility following the CPI report at 8:30 AM The odds are for an up day – watch for a break below 4492.00 for a change of sentiments The major economic data report due during the day: CPI m/m ( 0.2% vs. 0.2%…

Morning Notes – Wednesday, August 9, 2023

Directional Bias For The Day: S&P Futures are higher at 8:30 AM. Futures are moving sideways since 5:00 AM. The odds are for an up day – watch for a break below 4523.00 and 4515.50 for a change of sentiments No major economic data report is due during the day Directional Bias Before Open: Weekly:…

Morning Notes – Tuesday, August 8, 2023

Directional Bias For The Day: S&P Futures are lower at 8:30 AM. Futures are down more than 50 points since 4:45 PM on Monday. The odds are for a down day with elevated volatility – watch for a break above 4520.25 and 4529.25 for a change of sentiments The major economic data reports due during…

Morning Notes – Monday, August 7, 2023

Directional Bias For The Day: S&P Futures are higher at 8:45 AM. Futures are up more than 12 points since 6:30 AM but are within a trading range between 4522.00 and 4504.00 The odds are for an up day, within a down daily bias, with elevated volatility – watch for a break below 4504.75 for…

Morning Notes – Friday, August 4, 2023

Directional Bias For The Day: S&P Futures are higher at 8:30 AM. Futures first declined from 4547.00 at 4:00 AM to 4519.25 at 7:45 AM, then bounced up to 4535.75 at 8:30 AM, and then started to decline following the release of the Non-Farm, Payroll report at 8:30 AM. The odds are for an up…