Morning Notes – Friday January 19, 2018

Directional Bias For The Day: S&P Futures are up with increased volatility; rose from 2791.75 to 2806.00 then declined to 2796.00 30-min 8:30 AM candle made a hammer like reversal candle Odds are an up day but with increase volatility with good chance for a down day – watch for break below 2796.00 for change of fortunes Key economic…

Morning Notes – Thursday January 18, 2018

Directional Bias For The Day: S&P Futures are down; moving down in a down-sloping flag sine 3:00 PM on Wednesday At the lower bound of a horizontal channel on 6-Minute timeframe Odds are a sideways day with an up bias – watch for break above 2806.25 and below 2800.25 for change of fortunes Key economic data due: Housing Starts (1.19M…

Morning Notes – Wednesday January 17, 2018

Directional Bias For The Day: S&P Futures are higher; moving higher since 2:30 PM on January 16 Emerging up-sloping flag; a break below will be bearish Odds are for an up day but most likely down from current levels – watch for break below 2782.25 for change of fortunes Key economic data due: Capacity Utilization (77.9% vs. 77.3% est.) at 9:15…

Morning Notes – Tuesday January 16, 2018

Directional Bias For The Day: S&P Futures are higher; moving sideways since 6:30 PM on January 14; most of the gains occurred at the start of week’s trading Odds are for an up day but sideways to down from current levels – watch for break below 2796.00 for change of fortunes Key economic data due: Empire State Manufacturing Index…

Morning Notes – Friday January 12, 2018

Directional Bias For The Day: S&P Futures are higher; moving up after sharp decline at 8:30 AM to negative Below a down trend line from the high Odds are for an up to sideway day – watch for break above 2774.50 and break below 2766.75 for change of fortunes Key economic data due: CPI (0.1% vs. 0.1% est.) and Core CPI (0.3%…

Morning Notes – Thursday January 11, 2018

Directional Bias For The Day: S&P Futures are higher; moving up since 5:30 AM on January 10 At 78.6% Fibonacci retracement level of the decline on January 9 & 10 Odds are for an up day – watch for break below 2747.75 for change of fortunes Key economic data due: PPI (-0.1% vs. 0.2% est.) and Core PPI (-0.1% vs. 0.2% est.)…

Morning Notes – Wednesday January 10, 2018

Directional Bias For The Day: S&P Futures are lower; moving down since 2:00 PM on January 9 Below a down trend line from the highs on 30-min chart; emerging head-&-shoulder pattern Emerging up-sloping bear flag on 15-min chart Odds are for a down day – watch for break above 2749.25 for change of fortunes Key economic data due: Import Prices (0.1% vs.…

Morning Notes – Tuesday January 9, 2018

Directional Bias For The Day: S&P Futures are higher; moved sideways from 1:30 PM on January 8 to 7:30 AM Odds are for an up day – watch for break below 2742.75 for change of fortunes No Key economic data due: Markets Around The World Markets in the East closed mostly higher – Seoul was lower European markets are up  Currencies: Up…