Morning Notes – Thursday March 7, 2019

Directional Bias For The Day: S&P Futures are little changed to up; moving since 2:30 AM; below a downtrend line Odds are for a down to sideways day – watch for break above 2778.75 and above the downtrend line for change of fortune Key economic data due: ECB Monetary Policy Statement at 7:30 AM ECB…

Morning Notes – Wednesday March 6, 2019

Directional Bias For The Day: S&P Futures are little changed to down; moving within a narrow range since NYSE close on Tuesday; moivng up since 11:00 PM from a low of 2781.50 Odds are for a sideways day – watch for break above 2796.75 or below 2781.50 for clarity Key economic data due: ADP Non-Farm…

Morning Notes – Tuesday March 5, 2019

Directional Bias For The Day: S&P Futures are little changed; drifting down since 4:30 AM after rising since 1:00 Pm on Monday Odds are for a down to sideways day – watch for break above 2796.50 for change of fortune Key economic data due: ISM Non-Manufacturing PMI (est. 57.4; prev. 56.7) at 10:00 AM New…

Morning Notes – Monday March 4, 2019

Directional Bias For The Day: S&P Futures are higher; moving up since 5:00 AM after declining from a high of 2819.75 at 6:00 PM Odds are for an up day – watch for break below 2809.50 for change of fortune No key economic data due: Markets Around The World Markets in the East closed mostly higher…

Morning Notes – Friday March 1, 2019

Directional Bias For The Day: S&P Futures are higher; moving up since 6:00 PM on Thursday; broke above a symmetrical triangle; Odds are for an up day – watch for break below 2795.25 for change of fortune Key economic data due: Core PCE Price Index (est. 0.2%; prev. 0.1%) at 8:30 AM Personal Spending ( est. -0.2%; prev. 0.4%) at 8:30 AM…

Morning Notes – Thursday February 28, 2019

Directional Bias For The Day: S&P Futures are lower; moving up since 2:00 AM from 2781.75; moving sideways to higher since 3:45 AM Odds are for a sideways to an up day – watch for break below 2785.50 for change of fortune Key economic data due: Advanced GDP (2.6% vs. 2.2% est.; 3.4% prev.) at 8:30 AM Advanced GDP Price Index…

Morning Notes – Wednesday February 27, 2019

Directional Bias For The Day: S&P Futures are lower; broke below a Double Top after NYSE close; tracing an up-sloping flag since 4:00 AM Odds are for a down day – watch for break above 2793.25 for change of fortune No Key economic data due: Sentiment & Catalyst Rick-off mood Markets Around The World Markets in the East closed mixed…

Morning Notes – Tuesday February 26, 2019

Directional Bias For The Day:   S&P Futures are lower; moved down from a high of 2814.00 at 11:00 AM on Monday to 2783.25 by 9:30 AM; Moving up since 9:30 PM and forming an up-sloping flag, a break below it would be bearish Odds are for a down day – watch for break above 2793.25 for change of fortune Key economic…

Morning Notes – Monday February 25, 2019

Directional Bias For The Day: S&P Futures are higher; moving up since 3:30 PM on Thursday Odds are for an up day – watch for break below 2794.50 for change of fortune Key economic data due: Final Wholesale Inventories (est. 0.3%; prev. 0.3%) at 10:00 AM Sentiment & Catalyst Risk-on mood since the weekend when signs of trade-tariff…

Morning Notes – Friday February 22, 2019

Directional Bias For The Day: S&P Futures are higher; drifting down since 6:30 AM after making a high of 2787.75; Daily is flashing signs of topping; finding resistance on 30-minute timeframe and 15-minute chart is showing Stochastic Bearish Divergence Odds are for a sideways to a down day – watch for break above 2787.75 and below 2780.25…