Is It The Much Awaited Reversal?

One Day Reversal Candlestick With Bearish Divergence Major U.S. indices closed down on Tuesday August 8 2017 after S&P 500, Dow Jones Industrial Average, NYSE Composite and Wilshire 5000 Total Market Index made all time intra-day highs. They also closed in the lower half of the day’s range. This does constitute as one-day reversal candlestick…

Morning Notes – Wednesday August 9, 2017

Directional Bias For The Day: S&P Futures are sharply lower Moving down from 2488.50, high at 12:00 PM on August 8; fresh leg down from high of 2468.00 at 3:00 AM; forming a bearish ABCD pattern with target near 2440.00 Odds are for a down day – watch for break above 2468.00 for a change of fortunes Key economic data due: Prelim Non-Far, Productivity (est. 0.7%) at…