Morning Notes – Wednesday June 28, 2017

Directional Bias For The Day: Futures are higher S&P 500 futures are up by 13.50 from 4:00 AM low of 2413.75 Near resistance formed by previously broken support at 2428.00 and by a down trend line from the high of 9:30 AM on June 26 A strong support is at 2412.50, the low of 2:00 PM on June 9 Odds are…

Morning Notes – Tuesday June 27, 2017

Directional Bias For The Day: Futures are lower Futures declining since 10:00 AM on June 26; a break below Monday’s low will be bearish Odds are for down to sideways day; watch for break above 2437.25 for change of fortunes Key economic data due: Conference Board Consumer Confidence (est. 116.1) at 10:00 AM Markets Around The World Markets in the East were mixed – Shanghai,…

Morning Notes – Monday June 26, 2017

Directional Bias For The Day: Futures are higher S&P Futures broke above a horizontal channel / ascending triangle at European session open at 3:00 AM; target is near 2449.00 Odds are for an up day; watch for break below 2439.00 for change of fortunes Key economic data due: Durable Goods Orders (0.1% vs. 0.4% est.) at 8:30 AM Core Durable Goods Orders (-1.1% vs.…

Morning Notes – Friday June 23, 2017

Directional Bias For The Day: Futures are mixed S&P Futures are little changed; bouncing off 2430.00, low reached at 6:15 AM Odds are for a sideways to down day; watch for break above 2436.75 or below 2430.00 for change of fortunes No Key economic data due: Markets Around The World Markets in the East closed mixed – Shanghai, Tokyo, Sydney and Seoul were up; Hong…

Morning Notes – Thursday June 22, 2017

Directional Bias For The Day: Futures are lower Bouncing off 2428.00, low reached at 5:30 AM, 1:30 PM and 4:00 AM on June 21 Odds are for a sideways day; watch for break above 2434.50 or below 2428.00 for change of fortunes Key economic data due: Unemployment Claims (est. 241K) at 8:30 AM Markets Around The World Markets in the East closed mixed – Shanghai,…

Morning Notes – Wednesday June 21, 2017

Directional Bias For The Day: Futures are lower At Tuesday session’s close level Moving up since 3:30 AM Odds are for a sideways to down day; watch for break above 2437.25 for change of fortunes Key economic data due: Existing Home Sales (est. 5.54M) at 10:00 AM Markets Around The World Markets in the East closed mostly down – Shanghai was up European markets are lower Dollar index and USD/JPY are…

Morning Notes – Tuesday June 20, 2017

Directional Bias For The Day: Futures are lower Moving sideways since 10:30 AM on June 19 Falling back to the upper limit of a horizontal channel that price broke at 10:00 AM on June 19 Odds are for a sideways to down day; watch for break above 2451.00 for change of fortunes No Key economic data due: Markets Around The World Markets in the East closed mostly down –…

Morning Notes – Monday June 19, 2017

Directional Bias For The Day: Futures are higher Moving higher since 10:30 AM on June 16 Nearing upper limit of a horizontal channel in effect since 10:00 AM on June 9 Odds are for an up; watch for break below 2435.25 for change of fortunes No Key economic data due: Markets Around The World Markets in the East closed higher European markets are higher Dollar index and USD/JPY are…

Morning Notes – Friday June 16, 2017

Directional Bias For The Day: Futures are higher Moving sideways since 8:00 PM on June 15 In the middle of a horizontal channel on 30-minute chart Odds are for a sideways day with an up bias; watch for break below 2431.00 for change of fortunes Key economic data: Building Permits (est. 1,25M) at 8:30 AM Housing Start (est. 1.23M) at 8:30 AM Prelim UoM Consumer Sentiments (est. 97.2) at 10:00 AM Markets Around…

Morning Notes – Thursday June 15, 2017

Directional Bias For The Day: Futures are sharply lower Moving down since 8:30 AM on June 14 Odds are for a down day; watch for break below 2425.75 for change of fortunes Key economic data: Unemployment Claims (237K vs. 241est.) at 8:30 AM Empire State Mfg. Index (19.8 vs. 5.2 est.) at 8:30 AM Import Prices (-0.3% vs. 0.1% est.) at 8:30 AM Philly Fed Mfg. Index (27.6 vs. 25.5 est.) Markets Around The…