Morning Notes – Tuesday July 9, 2019

Directional Bias For The Day: S&P Futures are lower; moving sideways since 11:30 PM on Monday The odds are for a sideways to down day – watch for break above 2979.75 and break below 2963.50 for clarity Key economic data due: JOLTS Jobs Openings (est. 7.51M; prev. 7.45M) at 10:00 AM IBD/TIPP Economic Optimism (…

Morning Notes – Friday June 21, 2019

Directional Bias For The Day: S&P Futures are lower; moving sideways to down since 8:30 AM on Thursday The odds are for a sideways to down day – watch for break above 2960.00 and break below 2951.75 for clarity Key economic data due: Flash Manufacturing PMI ( 50.1 vs. 50.5 est. ; prev. 50.5) at…

Morning Notes – Friday June 14, 2019

Directional Bias For The Day: S&P Futures are lower; moving sideways to down since 7:00 AM on Thursday The odds are for a sideways to down day – watch for break above 2898.75 and break below 2881.75 for clarity Key economic data due: Retail Sales ( 0.5% vs. 0.7% est. ; 0.3%) at 8:30 AM…

Morning Notes – Thursday June 13, 2019

Directional Bias For The Day: S&P Futures are higher; moving sideways to up since 4:30 AM The odds are for an up to sideways day – watch for break below 2887.25 for change of fortune Key economic data due: Import Prices ( -0.3% vs. -0.3% est. ; 0.2%) at 8:30 AM Unemployment Claims ( 222K…

Morning Notes – Friday June 7, 2019

Directional Bias For The Day: S&P Futures are higher; moving down since 6:45 AM from a high of 2856.75 to just below 2850 The odds are for an up to sideways day with elevated volatility – watch for break below 2842.25 for change of fortune Key economic data due: Non-Farm Employment Change ( 75K vs. 177K…

Morning Notes – Thursday June 6, 2019

Directional Bias For The Day: S&P Futures are higher; moving sideways since 3:30 AM after breaking above an ascending triangle The odds are for a sideways to an up day with elevated volatility – watch for break below 2821.75 for change of fortune Key economic data due: Challenger Job Cuts (85.9%; prev. 10.9%) at 7:30…

Morning Notes – Wednesday June 5, 2019

Directional Bias For The Day: S&P Futures are higher; moving lower since 6:30 AM from a high of 2824.50; Fallen back into a narrow horizontal channel on 30-minute chart from which price broke out at 5:00 AM The odds are for a sideways to an up day with elevated volatility – watch for break below…

Morning Notes – Tuesday June 4, 2019

Directional Bias For The Day: S&P Futures are higher; moving higher since 3:30 PM on Monday; new leg up since 2:30 AM; broke above double bottom pattern The odds are for an up day with elevated volatility – watch for break below 2759.00 for change of fortune No key economic data due: Markets Around The…

Morning Notes – Monday June 3, 2019

Directional Bias For The Day: S&P Futures are lower; moving sideways to up since 6:00 PM on Sunday after a gap down open for the week The odds are for a sideways to an up day with elevated volatility and substantial potential to reverse the bounce and resume downtrend Key economic data due: ISM Manufacturing PMI…