Morning Notes – Wednesday, April 10, 2024

Directional Bias for the Day: S&P Futures have been moving sideways to up since 4:00 PM between 5272.00 and 5257.75. Futures markets are awaiting the CPI report at 8:30 AM. The odds are for a sideways move with elevated volatility. Watch for a break above 5274.25 or a break below 5257.0 for clarity. The major…

Morning Notes – Tuesday, April 9, 2024

Directional Bias for the Day: S&P Futures have been moving higher since 6:30 AM from a sideways move. Up more than 25 points. The odds are for an up day with elevated volatility. Watch for a break below 5246.00 for a change of sentiments. No major economic data report is due during the day: Weekly:…

Morning Notes – Thursday, April 4, 2024

Directional Bias for the Day: S&P Futures have been drifting higher since 6:30 PM. The odds are for an up day – watch for a break below 5274.25 and 5267.75 for a change of sentiments. The major economic data report due during the day: Unemployment Claims (213K est.; prev. 210K) at 8:30 AM. Trade Balance…

Morning Notes – Wednesday, April 3, 2024

Directional Bias for the Day: S&P Futures are moving within a trading range between 4263.25 and 4246.50 since Tuesday’s NYSE close. The odds are for a sideways day – watch for a break above 5263.25 or a break below 5246.50 for clarity. The major economic data report due during the day: ADP Non-Farm Employment Change…

Morning Notes – Tuesday, April 2, 2024

Directional Bias for the Day: S&P Futures are lower at 9:00 AM. Broke below support levels at 5282.25 at 6:30 AM after moving within a horizontal channel since Monday morning. At 8:30 AM futures broke below another support level at 5263.00. The odds are for a down day with elevated volatility – watch for a…

Morning Notes – Thursday, March 14, 2024

Directional Bias for the Day: S&P Futures are higher at 9:00 AM. The futures have moved down by more than ten points since 7:00 AM following the release of PPI data. The odds are for a sideways to a down day from pre-open levels around 5240.00 – watch for a break above 5253.50 and a…

Morning Notes – Wednesday, March 13, 2024

Directional Bias for the Day: S&P Futures are lower at 9:00 AM. The futures are moving between 5246.75 and 5235.00 since 3:00 PM on Tuesday. The odds are for a sideways to a down day with elevated volatility – watch for a break above 5246.75 and a break below 5235.00 for clarity. No major economic…

Morning Notes – Tuesday, March 12, 2024

Directional Bias for the Day: S&P Futures are higher at 8:30 AM. The futures first dropped 20 points following the CPI data release at 8:30 AM only to bounce up by more than 40 points within minutes. The odds are for an up day with increased volatility – watch for a break below 5200.00 for…

Morning Notes – Friday, March 8, 2024

Directional Bias for the Day: S&P Futures moved higher at 8:30 AM following the release of the NFP report. The odds are for an up day with increased volatility – watch for a break above 5237.25 and a break below 5206.75 – for more clarity. The major economic data report due during the day: Non-Farm…

Morning Notes – Thursday, March 7, 2024

Directional Bias for the Day: S&P Futures are higher at 8:45 AM – moving up since 3:00 AM – up more than 45 points. The odds are for an up day – watch for a break below 5109.00 for a change of sentiments. The major economic data report due during the day: ECB Monetary Policy…