Morning Notes – Monday November 13, 2017

Directional Bias For The Day: S&P Futures are down Drifting lower since 3:00 AM At the lower bound of a descending triangle; break below 2571.500 will have support near 2563.25 and target near 2557.25 Odds are for a down day and downward pressure after any bounce – watch for break above 2576.25 for change of fortunes No key economic data due Markets Around The World…

Morning Notes – Friday November 10, 2017

Directional Bias For The Day: S&P Futures are down Drifting higher since 4:30 AM Uptrend line since 4:40 AM with 2 touches; also an emerging up sloping flag Odds are for increased volatility; higher chances for a down day; chances for an up day are significant – watch for break above 2580.25 and below 2572.75  for change of fortunes Key economic data: Prelim UoM Consumer Sentiment (est.…

Morning Notes – Thursday November 9, 2017

Directional Bias For The Day: S&P Futures are down Drifting down since 9:00 PM on Wednesday Odds are for a down day – watch for break above 2583.50 and below 2582.25  for change of fortunes Key economic data: Unemployment Claims (239K vs. 232K Est.) at 8:30 AM Markets Around The World Markets in the East closed mostly higher – Tokyo and Seoul were down European markets are lower Currencies: Up…

Morning Notes – Wednesday November 8, 2017

Directional Bias For The Day: S&P Futures are down Drifting mostly down since 2:30 AM after bouncing off the lows of 2579.75 reached at 6:30 PM on Tuesday Odds are for a down to sideways day – watch for break above 2587.50 and below 2582.25  for change of fortunes No key economic data due: Markets Around The World Markets in the East closed mixed – Shanghai, Sydney…

Morning Notes – Tuesday November 7, 2017

Directional Bias For The Day: S&P Futures are little changed to down Drifting mostly down since 1:30 AM after rising to all time high of 2593.50 Potential H&S pattern being formed on 30-minute time-frame Odds are for a sideways to down day – watch for break above 2590.50 and below 2586.75  for change of fortunes No key economic data due: Markets Around The…

Morning Notes – Monday November 6, 2017

Directional Bias For The Day: S&P Futures are little changed to up Drifting mostly higher since 10:00 PM on Sunday Odds are for a sideways to down day – watch for break above 2585.50 and below 2575.50  for change of fortunes No key economic data due: Markets Around The World Markets in the East closed mixed – Shanghai, Tokyo and Mumbai closed up; Hong Kong, Sydney and…

Morning Notes – Friday November 3, 2017

Directional Bias For The Day: S&P Futures are higher Drifting mostly sideways since 4:00 PM on November 2 Odds are for a sideways day – watch for break above 2581.25 and below 2576.00  for change of fortunes Key economic data due: Average Hourly Earnings (0.0% vs. 0.2%) at 8:30 AM Non-Farm Employment Change (261K vs. 312K est.) at 8:30 AM Unemployment Rate (4.1%…

Morning Notes – Thursday November 2, 2017

Directional Bias For The Day: S&P Futures are little changed Drifting higher since 8:30 PM on November 1 low of 2563.25; up more than 12 points from lows Odds are for a sideways to down day – watch for break above 2578.50 and below 2570.75  for change of fortunes Key economic data due: Unemployment Claims (229K vs. 235K est.) at 8:30 AM…

Morning Notes – Wednesday November 1, 2017

Directional Bias For The Day: S&P Futures are higher Drifting higher since 8:30 PM on October 30 Odds are for an up – watch for break below 2579.25 for change of fortunes Key economic data due: ADP Non-Farm Employment Change (235K vs. 202K est.) at 8:15 AM ISM Manufacturing PMI (est. 59.5) at 10:00 AM FOMC Statement and Fed Funds Rate at 2:00…

Morning Notes – Tuesday October 31, 2017

Directional Bias For The Day: S&P Futures are higher Drifting higher since 8:30 PM on October 30; at a down trend line from the high of 2580.75 on October 27 Odds are for an up to sideways day – watch for break above 2575.00 and below 2471.00 for change of fortunes Key economic data due: Employment Cost Index (0.7% vs. 0.7% est.) at 8:30 AM…