Morning Notes – Wednesday July 31, 2019

Directional Bias For The Day: S&P Futures are higher; moving within a narrow horizontal channel – between 3020.00 and 3010.00 – within a bigger horizontal channel – between 3029.00 and 3000.00; The odds are for an up day – watch for break below 3014.00 and 3010.00 for change of fortune Watch for emerging Stochastic Bearish…

Morning Notes – Tuesday July 30, 2019

Directional Bias For The Day: S&P Futures are lower; declining rapidly since 10:30 PM on Monday The odds are for a down day – watch for break above 3016.25 for change of fortune Watch for emerging Stochastic Bearish Divergence on daily charts Key economic data due: Core PCE Price Index (est. 0.2%; prev. 0.2%) at…

Morning Notes – Monday July 29, 2019

Directional Bias For The Day: S&P Futures are little changed; drifting sideways since 4:00 PM on Friday; The odds are for a sideways to down day – watch for break below 3027.25 for change of fortune Watch for emerging Stochastic Bearish Divergence on daily charts No key economic data due:¬† Markets Around The World Markets…

Morning Notes – Friday July 26, 2019

Directional Bias For The Day: S&P Futures are higher; drifting sideways since 9:30 PM on Thursday; The odds are for sideways to up day – watch for break below 3010.50 for change of fortune Watch for emerging Stochastic Bearish Divergence on daily charts Key economic data due: Advanced GDP Key (est. 1.8%; prev. 3.1%) at…

Morning Notes – Thursday July 25, 2019

Directional Bias For The Day: S&P Futures are higher; drifting sideways to up; The odds are for an up day – watch for break below 3019.00 for change of fortune Watch for emerging Stochastic Bearish Divergence on daily charts Key economic data due: ECB Monetary Policy Statement at 7:45 AM ECB Press Conference at 8:0AM…

Morning Notes – Wednesday July 24, 2019

Directional Bias For The Day: S&P Futures are lower; drifting sideways to lower since 1:30 PM; the upsloping flag since Friday is in danger of breaking to downside The odds are for a down to sideways day from pre-open levels – watch for break above 3008.25 for change of fortune Key economic data due: Flash…

Morning Notes – Tuesday July 23, 2019

Directional Bias For The Day: S&P Futures are higher; drifting higher since 4:30 PM on Friday in an upsloping flag, which is usually bearish The odds are for an up to sideways day from pre-open levels – watch for break below 2989.00 for change of fortune Key economic data due: HPI (est. 0.3%; prev. 0.4%)…

Morning Notes – Monday July 22, 2019

Directional Bias For The Day: S&P Futures are higher; drifting higher since 4:40 PM on Friday in an upsloping flag, which is usually bearish The odds are for a sideways to down day from pre-open levels – watch for break above 3001.00 for change of fortune No key economic data due: Markets Around The World…

Morning Notes – Friday July 19, 2019

Directional Bias For The Day: S&P Futures are higher; mostly moving sideways near 3000.00 since 6:00 PM on Thursday after bouncing¬† from lows near 2975.00 The odds are for an day – watch for break below 2996.25 for change of fortune Key economic data due: Prelim UoM Consumer Sentiment ( est. 98.6; prev. 98.2 )…

Morning Notes – Thursday July 18, 2019

Directional Bias For The Day: S&P Futures are lower; mostly moving down since 8:00 AM on July 16; up-sloping bearish flag since 9:00 PM The odds are for a down to sideways day – watch for break above 2993.25 for change of fortune Key economic data due: Philly Fed Manufacturing Index ( est. 5.0 ;…