Morning Notes – Monday May 18, 2020

Directional Bias For The Day: S&P Futures are higher; The odds are for an up day with good chance of sideways to down move from pre-open level near 2925.00; elevated volatility – watch for break below 2890.00 for change of fortune Key economic data due: NAHB Housing Index ( 35 est.; prev. 30) at 10:00…

Morning Notes – Friday May 15, 2020

Directional Bias For The Day: S&P Futures are lower; broke below an upsloping wedge on 30-minute chart at 6:30 AM The odds are for a down day with good chance of sideways to up move from pre-open level near 2812.00; elevated volatility – watch for break above 2841.00 for change of fortune Key economic data…

Morning Notes – Thursday May 14, 2020

Directional Bias For The Day: S&P Futures are lower; broke below a symmetrical triangle at 7:30 AM on 30-minute chart The odds are for a down day with elevated volatility – watch for break above 2811.00 for change of fortune Key economic data due: Unemployment Claims ( 2981K vs. 2500K est.; prev. 3176K) at 8:30…

Morning Notes – Wednesday May 13, 2020

Directional Bias For The Day: S&P Futures are unchanged; moving down since 7:45 AM from 2876.75 broke below an upsloping flag on 15-minute chart The odds are for a down day with elevated volatility – watch for break above 2876.75 for change of fortune Key economic data due: Core PPI ( -0.3% vs. -0.1% est.;…

Morning Notes – Tuesday May 12, 2020

Directional Bias For The Day: S&P Futures are higher; moving up since 11:30 PM The odds are for an up day with elevated volatility – watch for break below 2909.00 for change of fortune Key economic data due: CPI ( -0.8% vs. -0.7% est.; prev. -0.4%) at 8:30 AM Core CPI ( -0.4% vs. -0.2%…

Morning Notes – Monday May 11, 2020

Directional Bias For The Day: S&P Futures are lower; moving lower since 9:30 PM on Sunday The odds are for a down day with good chance of sideways to up move from pre-open levels around 2895.00, with elevated volatility – watch for break below 2889.25 and break above 2911.25  for change of fortune No key…

Morning Notes – Friday May 8, 2020

Directional Bias For The Day: S&P Futures are higher; moving sideways since 9:30 PM after breaking above a resistance The odds are for an up day with good chance of sideways to down move from pre-open levels around 2910.00, with elevated volatility – watch for break below 2895.00 for change of fortune Key economic data…

Morning Notes – Thursday May 7, 2020

Directional Bias For The Day: S&P Futures are higher; trending up since 6:30 PM; bouncing off EMA20 on 15-minute chart at 7:15 AM The odds are for an up day with good chance of sideways move from pre-open levels around 2875.00, with elevated volatility – watch for break below 2863.00 for change of fortune Key…

Morning Notes – Wednesday May 6, 2020

Directional Bias For The Day: S&P Futures are higher; fluctuating between 2886.00 and 2865.00 since 1:00 AM Double Top on 30-Minute and 15-Minute chart The odds are for a sideways to down day, from pre-open levels around 2875.00, with elevated volatility – watch for break above 2886.25 for change of fortune Key economic data due:…

Morning Notes – Tuesday May 5, 2020

Directional Bias For The Day: S&P Futures are higher; trending up since 8:45 PM on Sunday; new leg since 5:00 AM The odds are for an up day with good chance of sideways to up move from pre-open levels around 2860.00 – watch for break below 2832.50 for change of fortune Key economic data due:…