Morning Notes – Tuesday May 23, 2017

Directional Bias For The Day: Futures are higher Moving sideways since 4:00 AM Odds are for a sideways to an up day; watch for break above 2397.75 and break below 2388.25 for change of fortunes No Key economic data to be released Markets Around The World Markets in the East were mostly lower – Hong Kong and Seoul were higher European markets are…

Morning Notes – Monday May 22, 2017

Directional Bias For The Day: Futures are higher Moving sideways since Friday’s close on 30-minute chart Odds are for an up day; watch for break below 2378.25 for change of fortunes No Key economic data to be released Markets Around The World Markets in the East were mostly higher – Shanghai was lower European markets are mostly lower – U.K. and Switzerland are higher;…

Morning Notes – Friday May 19, 2017

Directional Bias For The Day: Futures are higher Making a frying pan bottom since the high of 2375.0 at 2:30 PM on May 18 Break above Thursday high will be good for bulls Odds are for an up day; watch for break below 2361.00 for change of fortunes No Key economic data to be released Markets Around The World Markets in…

Morning Notes – Thursday May 18, 2017

Directional Bias For The Day: Futures are sharply lower Moving down since 9:30 AM on May 16 20-bar EMA is acting as a resistance level Futures rose to 2367 during Asian session but are not down to 2350.00 Odds are for a down day; watch for break above 2360.75 for change of fortunes Key economic data: Unemployment Claims – 232K vs. 240K…

Morning Notes – Wednesday May 17, 2017

Directional Bias For The Day: Futures are sharply lower Moving down since 9:30 AM on May 16 Fresh down leg at 6:00 PM on May 16 Breaking below an up-sloping flag that was forming since 8:30 PM at 8:00 AM Odds are for a down day; watch for break above 2388.75 for change of fortunes No key economic data to be released…

Morning Notes – Tuesday May 16, 2017

Directional Bias For The Day: Futures are higher Generally moving up since 10:30 AM on May 11; small rounding bottom pattern since Monday’s high Odds are for an up day; watch for break below 2397.00 for change of fortunes Key Economic data: Building Permits (1.23M vs. 1.27M est.); Housing Starts (1.17M vs. 1.26M) at  8:30 AM Markets Around The World Markets in the East were…

Morning Notes – Monday May 15, 2017

Directional Bias For The Day: Futures are higher Generally moving up since 6:30 AM on Friday; new leg-up since 5:30 AM Odds are for an up day; watch for break below above 2388.75 for change of fortunes Key Economic data: Empire State Manufacturing Index: -1.0 vs. 7.2 est. 8:30 AM Markets Around The World Markets in the East were mostly positive – Tokyo closed down…

Morning Notes – Tuesday May 9, 2017

Directional Bias For The Day: Futures are higher Generally moving up since 11:30 AM on Monday; breaking above a flat range at 3:00 AM breaking above a horizontal channel – high 2397.75 and low of 2389.75 with target near 2407.75 Odds are working for an up day; watch for break below above 2393.00 for change of fortunes Key Economic data: JOLTS…

Morning Notes – Friday May 5, 2017

Directional Bias For The Day: Futures are flat Moving up since 12:00 AM Trading within a narrow horizontal channel for the past few days Odds are for a range bound day; watch for break below above 2390.75 and below 2379.00 for change of fortunes Dependent upon Non-Farm Payroll data – a good report may be bullish and bad one bearish Key economic data:…

Morning Notes – Thursday May 4, 2017

Directional Bias For The Day: Futures are higher Moving up since 10:30 AM on May 3; at the upper limit of a horizontal channel on 30-minute chart Odds are for an up day; watch for break below above 2384.75 for change of fortunes Key economic data: Unemployment claims – at 8:30 AM Prelim Nonfarm Productivity and Prelim Labor Cost – at 10:00 AM Markets…