Morning Notes – Monday April 23, 2018

Directional Bias For The Day: S&P Futures are higher; moving up since 4:00 AM At the upper bound of a symmetrical triangle on 30-minute chart Down bias on daily and 2-hour charts; bias  is sideways to up on lower degree timeframes Odds are for a choppy day – watch for break above 2778.25 and below 2666.50 for change…

Morning Notes – Friday April 20, 2018

Directional Bias For The Day: S&P Futures are little changed; moving  higher since 3:30 AM; Forming a W14 pattern as named by Arthur Merrill Odds are for an up move – watch for break below 2690.25 for change of fortunes No key economic data due Markets Around The World Markets in the East closed lower European markets are mixed – U.K., France, Spain and…

Morning Notes – Thursday April 19, 2018

Directional Bias For The Day: S&P Futures are lower; moving  mostly  lower since 7:45 AM on April 18; Broken below a descending triangle on 6-minute chart; 61.8% extension target near 2698.75 is achieved; 100% extension target is near 2695.50 Odds are for a down move – watch for break above 2708.00 for change of fortunes Key economic data due Unemployment…

Morning Notes – Wednesday April 18, 2018

Directional Bias For The Day: S&P Futures are higher; moving higher since 3:00 AM on April 16; Odds are for an up move – watch for break below 2708.00 for change of fortunes Key economic data due Beige Book at 2:00 PM Markets Around The World Markets in the East were mostly higher – Mumbai was down European markets are mostly…

Morning Notes – Tuesday April 17, 2018

Directional Bias For The Day: S&P Futures are higher; moving higher since 3:00 AM on April 16; nearing 2700.00 level Odds are for an up move, but perhaps sideways move around the 2700 – watch for break above 2702.00 and below 2689.00 for change of fortunes Key economic data due Building Permits (1.35M vs. 1.33M est.) at 8:30…

Morning Notes – Friday April 13, 2018

Directional Bias For The Day: S&P Futures are higher; fresh move up since 3:30 AM Breaking above a resistance at the upper bound of a horizontal channel that is being formed since March 22 Odds are for an up move with high volatility – watch for break below 2669.00 for change of fortunes Key economic data due Prelim UoM Consumer…

Morning Notes – Thursday April 12, 2018

Directional Bias For The Day: S&P Futures are higher; moving sideways since 6:30 AM after a jump from another sideways move from 6:30 PM to 5:40 AM At a resistance of the upper bound of a horizontal channel Odds are for a sideways move from current level, with an up bias, and volatility – watch for break above 2656.50…

Morning Notes – Wednesday April 11, 2018

Directional Bias For The Day: S&P Futures are lower; moving higher since 7:00 AM Breaking above a downtrend line on 30-min chart Breaking above an inverse head-&-shoulder pattern on 6-minute chart; targets near 2646.50 and 2642.50; resistance at 2643.25 Odds are for a sideways move from current level with great volatility – watch for break above 2643.25 and…

Morning Notes – Tuesday April 10, 2018

Directional Bias For The Day: S&P Futures are higher; moving sideways since 10:30 PM on April 9 Odds are for a sideways move from current level with up bias – watch for break above 2656.25 and below 2640.50 for change of fortunes Key economic data due PPI (0.3% vs. 0.1% est.) at 8:30 AM Core PPI (0.3%…

Morning Notes – Monday April 9, 2018

Directional Bias For The Day: S&P Futures are higher; moving sideways since 6:30 PM on April 8 Odds are for a sideways move from current levels with an up bias – watch for break above 2622.50 and below 2615.00 for change of fortunes No key economic data due Markets Around The World Markets in the East were up European…