Morning Notes – Wednesday, October 11, 2023

Directional Bias For The Day: S&P Futures are higher at 9:00 AM – moving higher since 2:15 and forming the right side of a cup-pattern The odds are for an up day with elevated volatility – watch for a break below 4395.25 for a change of sentiments The major economic data reports due during the…

Morning Notes – Monday, October 9, 2023

Directional Bias For The Day: S&P Futures are lower at 9:00 AM – moving within a trading range between 4322.50 and 4299.50 after gapping down more than 40 points at the week’s open The odds are for a sideways to down day with elevated volatility – watch for a break above 4322.50 or a break…

Morning Notes – Friday, October 6, 2023

Directional Bias For The Day: S&P Futures are a little higher at 8:00 AM – moving sideways  around the 4295.00 level ahead of the 8:30  AM Non-Farm Employment report The daily bias is down, the futures are within a support zone, and there is a good chance of a bounce; odds are for elevated volatility…

Morning Notes – Thursday, October 5, 2023

Directional Bias For The Day: S&P Futures are lower at 9:00 AM – declined more than 20 points from 8:00 AM, moving between a horizontal channel between 4304.00 and 4277.25 The odds are for a sidewyas to down day with elevated volatility – watch for a break above 4304.00 or a break below 4277.25 for…

Morning Notes – Wednesday, October 4, 2023

Directional Bias For The Day: S&P Futures are higher at 9:00 AM – at a resistance level around 4278.00, a swing-high on the 15-minute chart The odds are for an up day with elevated volatility – watch for a break below 4258.50 for a change of sentiments The major economic data reports due during the…

Morning Notes – Tuesday, October 3, 2023

Directional Bias For The Day: S&P Futures are lower at 9:00 AM – declined more than 40 points since 4:15 AM high of 4336.75 The odds are for a down day with elevated volatility – watch for a break above 4313.75 for a change of sentiments The major economic data reports due during the day:…

Morning Notes – Monday, October 2, 2023

Directional Bias For The Day: S&P Futures are lower at 9:00 AM, at a swing low around 4311.00 on the 15-minute chart after declining from a high of 4355.50 at 3:15 AM The odds are for a down day with a good chance of a bounce from the pre-open levels around 4315.00 – watch for…

Morning Notes – Friday, September 29, 2023

Directional Bias For The Day: S&P Futures are higher at 8:45 AM, breaking above a cup-with-handle pattern on the 15-minute chart; The odds are for an up day – watch for a break above 4350.00 for a change of sentiments The major economic data reports due during the day: Core PCE Price Index ( 0.1%…

Morning Notes – Thursday, September 28, 2023

Directional Bias For The Day: S&P Futures are lower at 8:45 AM, moving sideways since 3:00 PM on Wednesday between 4330.25 and 4302.25 The odds are for a sidewyas to a down day – watch for a break above 4330.25 or a break below 4302.25 for clarity The major economic data reports due during the…

Morning Notes – Tuesday, September 26, 2023

Directional Bias For The Day: S&P Futures are lower at 8:45 AM, moving sideways within a trading range between  4366.50 and 4344.00 The odds are for a sidewyas to a down day – watch for a break above 4383.50 or a break below 4338.25 for clarity The major economic data reports due during the day:…