Morning Notes – Thursday June 21, 2018

Directional Bias For The Day: S&P Futures are lower; moving down since 10:00 PM; bouncing up since 5:15 AM; at 38.2% retracement of the decline from 2785.25 to 2762.00 Odds are for a down day – watch for break above 2771.50 for change of fortune Key economic data due: Unemployment Claims (218K vs. 220K est.) at 8:30 AM Philly Fed Manufacturing Index…

Morning Notes – Tuesday June 19, 2018

Directional Bias For The Day: S&P Futures are lower; moved sharply lower at 7:00 PM on Monday Odds are for a down day – watch for break above 2757.50 for change of fortune Key economic data due: Housing Starts (1.35M vs. 1.31M est.) at 8:30 AM Building Permits (1.30M vs. 1.35M est.) at 8:30 AM Markets Around The World Markets in…

Morning Notes – Monday June 18, 2018

Directional Bias For The Day: S&P Futures are lower; moving lower since 10:00 AM on June 14; sharp decline began at 8:00 PM on Sunday at the start of Asian session Odds are for a down day – watch for break above 2774.25 for change of fortune No key economic data due: Markets Around The World Markets in the East…

Morning Notes – Friday June 15, 2018

Directional Bias For The Day: S&P Futures are lower; moving lower since 10:00 AM on June 14 Odds are for a down day – watch for break above 2782.25 for change of fortune Key economic data due: Empire State Manufacturing Index (25.0 vs. 19.1 est.) at 8:30 AM Capacity Utilization Rate (77.9% vs 78.1% est.) at 9:15 AM Industrial Production…

Morning Notes – Wednesday June 13, 2018

Directional Bias For The Day: S&P Futures are higher; moving within a narrow horizontal channel – high near 2794.00 and low near 2789.00 – since NYSE close on June 12; low volatility; awaiting FOMC Statement at 2:00 PM Odds are for a sideways move in the early session – watch for break above 2794.25 and below 2789.25 for clarity…

Morning Notes – Tuesday June 12, 2018

Directional Bias For The Day: S&P Futures are higher; moving within a down-sloping flag since in a downtrend since 1:00 PM on June 11 on 30-minute chart; approaching the upper limit Odds are for an up day – watch for break below 2782.25 for change of fortune Key economic data due: CPI (0.2% vs. 0.2% est.) at 8:30 AM Core…

Morning Notes – Thursday June 7, 2018

Directional Bias For The Day: S&P Futures are higher; moving mostly sideways since 4:45 Am after declining from 3:40 AM high of 2779.50 Odds are for a sideways to up day – watch for break below 2770.25 and break above 2776.75 for clarity Key economic data due: Unemployment Claims (22k vs. 223K est.) at 8:30 AM Markets Around The World…

Morning Notes – Tuesday June 5, 2018

Directional Bias For The Day: S&P Futures are higher; declining since 6:00 AM after making a bearish engulfing candlestick line on 30-minute chart Odds are for a sideways to down day – watch for break above 2750.25 and below 2742.00 for clarity Key economic data due: ISM Non-Manufacturing PMI (est. 54.2) at 10:00 AM Markets Around The World Markets in the…

Morning Notes – Monday June 4, 2018

Directional Bias For The Day: S&P Futures are higher; declining since 5:30 AM in an down-sloping flag Odds are for an up day – watch for break below 2739.75 for change of fortune more clarity No key economic data due: Markets Around The World Markets in the East were mostly up – Mumbai was down European markets are up Currencies: Up Down…

Morning Notes – Thursday May 31, 2018

Directional Bias For The Day: S&P Futures are little changed to higher; Mostly moving sideways since 12:00 PM on Wednesday A narrow wedge is emerging on 15-minute charts; break above 2728.25 will have bullish implications and break below 2721.75 bearish Odds are for sideways day with up-bias – watch for break above 2728.25 and break below 2721.75 for more clarity Key economic…