Morning Notes – Thursday June 4, 2020

Directional Bias For The Day: S&P Futures are lower The odds are for a down day with good chance of sideways to up move from pre-open levels around 3098.00 – watch for break below 3086.00 and break above 3112.75 for clarity Key economic data due: Unemployment Claims ( 1877K vs. 1820K est.; prev. 2126K) at…

Morning Notes – Wednesday June 3, 2020

Directional Bias For The Day: S&P Futures are higher The odds are for an up day – watch for break below 3084.50 Key economic data due: ADP Non-Farm Employment Change ( -2760K vs. -9000K est.; prev. -1957K) at 8:15 AM Final Services PMI (37.5 vs. 37.2 est.; prev. 36.9) at 9:45 AM ISM Non-Manufacturing PMI…

Morning Notes – Tuesday June 2, 2020

Directional Bias For The Day: S&P Futures are higher but moving down sideways since 5:30 AM The odds are for an up day with good chance of sideways to down move from pre-open levels around 3065.00 No key economic data due: Directional Bias Before Open: Weekly: In Correction Daily: In Correction 120-Min: Up 30-Min: Up…

Morning Notes – Thursday May 28, 2020

Directional Bias For The Day: S&P Futures are higher but NASDAQ futures are down; moving sideways since 6:00 PM on Tuesday The odds are for a sideways to an up day – watch for break below 3028.00 Key economic data due: Prelim GDP ( -5.0% vs. -4.8% est.; prev. -4.8%) at 8:30 AM Durable Goods…

Morning Notes – Wednesday May 27, 2020

Directional Bias For The Day: S&P Futures are higher but NASDAQ futures are down The odds are for up day; good chance of moving sideways to down from pre-open levels around 3025.00; elevated volatility – watch for break below 3004.00 Key economic data due: Richmond Manufacturing Index ( -40 est.; prev. -53) at 10:00 AM…

Morning Notes – Tuesday May 26, 2020

Directional Bias For The Day: S&P Futures are higher The odds are for up day; good chance of moving sideways to down from pre-open levels around 3015.00; elevated volatility – watch for break below 3004.00 Key economic data due: HPI ( 0.1% vs. 0.6% est.; prev. 0.8%) at 9:00 AM S&P/CS Composite-20 HPI (3.9% vs.…

Morning Notes – Friday May 22, 2020

Directional Bias For The Day: S&P Futures are higher before the open; moving up since 3:15 AM from 2903.75 The odds are for a sideways day with elevated volatility – watch for break above 2945.75 and below 2927.50 for more clarity No key economic data due: Directional Bias Before Open: Weekly: In Correction Daily: In…

Morning Notes – Thursday May 21, 2020

Directional Bias For The Day: S&P Futures are lower; moving up since 6:00 AM from 2943.40 to above 2960.00 The odds are for a sideways to an up day with elevated volatility – watch for break below 2941.50 for change of fortune Key economic data due: Unemployment Claims (438K vs. 2400K est.; prev. 2981K) at…

Morning Notes – Wednesday May 20, 2020

Directional Bias For The Day: S&P Futures are higher; The odds are for an up day with elevated volatility – watch for break below 2925.00 for change of fortune No key economic data due: Directional Bias Before Open: Weekly: In Correction Daily: In Correction 120-Min: Up-Side 30-Min: Up-Side 15-Min: Up-Side 6-Min: Up Key Levels: Critical…

Morning Notes – Tuesday May 19, 2020

Directional Bias For The Day: S&P Futures are mixed; The odds are for a sideways day elevated volatility – watch for break above 2948.00 and break 2930.75 for more clarity A symmetrical triangle – flag – is appearing on 6-minute chart Key economic data due: Building Permits (1.07M vs. 1.00M est.; prev. 1.36M) at 8:30…