Morning Notes – Tuesday October 16, 2018

Directional Bias For The Day: S&P Futures are higher; moving higher since 6:00 PM on Monday A symmetrical triangle is forming on 30-minute chart; a break above 2775.00 wil be bullish and a break below 2755.00 will be bearish Odds are for an up day with increased volatility Key economic data due: Industrial Production (est. 0.2%) at 9:15 AM Capacity…

Morning Notes – Monday October 15, 2018

Directional Bias For The Day: S&P Futures are lower; moving higher since 4:45 AM from a low of 2745.25; almost near Friday’s close Odds are for a sideways to an up day with increased volatility Key economic data due: Core Retail Sales ( -0.1% vs. 0.4% est.) at 8:30 AM Retail Sales (0.1% vs. 0.7% est.) at 8:30 AM Empire State Manufacturing…

Morning Notes – Friday October 12, 2018

Directional Bias For The Day: S&P Futures are higher; closed 14 point above the NYSE session close; moving higher since 5:00 AM after retracing from a high of 2785.00 reached at 2:30 AM Odds are for an up day with increased volatility Key economic data due: Import Prices ( 0.5% vs. 0.3% est.) at 8:30 AM Prelim UoM Consumer Sentiment (est.…

Morning Notes – Thursday October 11, 2018

Directional Bias For The Day: S&P Futures are sharply lower; moving higher since 5:00 AM after making a low of 2747.25 below earlier low of 2748.50; nearly 30 points above the day’s low so far Odds are for a down day with a good chance of a dead-cat-bounce; increased volatility Key economic data due: CPI ( 0.1% vs.…

Morning Notes – Wednesday October 10, 2018

Directional Bias For The Day: S&P Futures are lower; moving further lower since 7:30 AM; broke below a descending triangle on 15-minute chart with 100% extension target near 2862.00 level Odds are for a down day with volatility – watch for break above 2889.50 for change of fortune Key economic data due: PPI ( 0.2% vs. 0.2% est.)…

Morning Notes – Tuesday October 9, 2018

Directional Bias For The Day: S&P Futures are lower; declined from 4:00 PM high of 2894.00 to 7:30 AM low of 2874.50; rising since to 2885.00 At/Below a down trendline Break above 2894.00 is critical Odds are for a volatile with real chance of turning around; if the bounce fails then there is an increased chance of…

Morning Notes – Friday October 5, 2018

Directional Bias For The Day: S&P Futures are volatile due to Non-Farm Payroll; mostly sideways since 4:00 PM on Thursday Odds are for a down day; Volatile day; watch for break above 2910.25 and below 2897.25 for more clarity Key economic data due: Non-Farm Employment Change (134K vs. 185K est.) at 8:30 AM Unemployment Rate (3.7% vs. 3.8% est.) at 8:30 AM…

Morning Notes – Thursday October 4, 2018

Directional Bias For The Day: S&P Futures are lower; but moving higher since 5:00 AM after making a double bottom at 2913.25 and bullish divergence on 15-minute chart Odds are for a down day; watch for break above 2924.00 and 2925.50 for change of fortune Key economic data due: Unemployment Claims (207K vs. 214K) at 8:30 AM Markets Around The World…

Morning Notes – Wednesday October 3, 2018

Directional Bias For The Day: S&P Futures are higher; moving higher since 5:00 AM on October 2; breaking above a resistance near 2936.00 Odds are for an up day; watch for break below 2932.25 Key economic data due: ADP Non-Farm Employment Change (230K vs. 185K est.) at 8:15 AM ISM Non-Manufacturing PMI (61.6 vs. est. 58.0) at 10:00 AM Markets Around…

Morning Notes – Tuesday October 2, 2018

Directional Bias For The Day: S&P Futures are lower but moving higher since 5:00 AM after making bullish RSI divergence on 30-minute charts Odds are for a sideways to an up day; watch for break below 2921.75 and break above 2931.75 No key economic data due: Markets Around The World Markets in the East closed mostly down – Tokyo was up; Shanghai and Mumbai…