Morning Notes – Thursday February 15, 2018

Directional Bias For The Day: S&P Futures are higher; moving higher since 9:00 AM on February 14 Odds are for an up day – watch for break below 2704.00 for a change of fortunes Key economic data due: PPI (0.4% vs. 0.4% est.) and Core PPI (0.4% vs. 0.2% est.) at 8:30 AM Empire State Manufacturing Index (13.1 vs. 17.7…

Morning Notes – Wednesday February 14, 2018

Directional Bias For The Day: S&P Futures are lower; they were higher before CPI news Sharp decline following news from a high of 2675.75 to a low of 2627.00 Odds are for a down to sideways day but with elevated levels of volatility – watch for break above 2675.75 and break below 2627.00 for a change of fortunes Key economic data due:…

Morning Notes – Monday February 12, 2018

Directional Bias For The Day: S&P Futures are higher; A horizontal channel is emerging on 30-minute chart – low 2530.00 and high near 2726.00 Odds are for an up day but probably a sideway move from pre NYSE open levels with elevated volatility – watch for break above 2655.00 and break below 2623.00 for a change of fortunes No Key economic data due:…

Morning Notes – Friday February 9, 2018

Directional Bias For The Day: S&P Futures are higher from previous day’s close, which was higher than the NYSE session close An up-sloping flag is emerging on 30-minute chart; a break below 2680.00 will be bearish with a target near 2530.00 Odds are for a bounce with elevated volatility – watch for break above 2617.00 and break below 2580.00 for a change…

Morning Notes – Thursday February 8, 2018

Directional Bias For The Day:  S&P Futures are higher from previous close but not much from NYSE session close An up-sloping flag is emerging on 6-minute chart; a break below 2657.00 will be quite bearish Odds are for a sideways days with elevated volatility – watch for break above 2686.00 and break below 2657.00 for a change of fortunes…

Morning Notes – Wednesday February 7, 2018

Directional Bias For The Day: S&P Futures are lower Bouncing off the lows and forming a down-sloping flag Broke above a horizontal channel on 6-minute at 6:30 AM; the 161.8% extension target is near 2691.00 Broke above a symmetrical triangle on 6-minute chart; 100% extension target near 2688.00 is achieved Odds are for an up day with increased volatility –…

Morning Notes – Friday February 2, 2018

Directional Bias For The Day: S&P Futures are lower Broke below a horizontal channel on 30-minute chart and achieved 61.8% extension; 100% extension target is near 2788.75 Odds are for down day with increased volatility – watch for break above 2813.00 for a change of fortunes Key economic data due: Non-Farm Employment Change (200K vs. 181K est.) at 8:30 AM Average Hourly Earnings (0.3%…

Morning Notes – Thursday February 1, 2018

Directional Bias For The Day: S&P Futures are lower Near a support after turning down from a strong resistance; break below 2813.00 will be more bearish Odds are for down day with increased volatility – watch for break above 2828.75 for a change of fortunes Key economic data due: Prelim Nonfarm Productivity (-0.1% vs. 0.8% est.) at 8:30 AM Prelim Labor Cost (2.06% vs. 0.9%…

Morning Notes – Wednesday January 31, 2018

Directional Bias For The Day: S&P Futures are higher and trending up since 1:00 PM on January 30 Trying the break above an ascending triangle on 30-Minute chart Odds are for an up day; good chance of increased volatility – watch for break below 2828.50 for a change of fortunes Key economic data due: ADP Non-Farm Employment Change (234K vs. 186K…

Morning Notes – Tuesday January 30, 2018

Directional Bias For The Day: S&P Futures are down and moving down since 5:00 AM An up-sloping flag on 6-minute chart is broken to the downside but there is a support at 2831.00, a break below it would be quite bearish Odds are for down day; good chance of increased volatility – watch for break above 2845.75 for change of fortunes Key economic data…