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:…

Morning Notes – Monday May 5, 2020

Directional Bias For The Day: S&P Futures are lower; trending sideways to up since 8:30 PM The odds are for a down day with good chance of sideways to up move from pre-open levels around 2800.00 – watch for break above 2821.50 for change of fortune Key economic data due: Factory Orders ( -9.2% est.;…

Morning Notes – Friday May 1, 2020

Directional Bias For The Day: S&P Futures are lower; trending down since 12:00 AM on Thursday; The odds are for a down day with elevated volatility – watch for break above 2879.75 for change of fortune Key economic data due: Final Manufacturing PMI ( 36.9 est.; prev.36.9) at 9:45 AM ISM Manufacturing PMI ( 36.7…

Morning Notes – Thursday April 30, 2020

Directional Bias For The Day: S&P Futures are lower; moving down from 2965.00 at 0:15 AM to 2925.00 by 8:45 AM The odds are for a down day with elevated volatility – watch for break above 2952.25 for change of fortune Key economic data due: Unemployment Claims ( 3839K vs. 3500K est.; prev.4442K) at 8:30…

Morning Notes – Wednesday April 29, 2020

Directional Bias For The Day: S&P Futures are higher; moving sideways since 9:30 PM after bouncing up from NYSE close on Tuesday Broke above Double Bottom on 15-minute charts at 8:30 AM Economic news will have significant impact on price-action The odds are for an up day with elevated volatility – watch for break above…

Morning Notes – Tuesday April 28, 2020

Directional Bias For The Day: S&P Futures are higher; moving sideways to up since 5:45 AM after moving up from 12:00 AM The odds are for an up day – watch for break below 2898.25 for change of fortune Key economic data due: Good Trade Balance (-64.2B vs. -55.0B est.; prev. -59.9B) at 8:30 AM…

Morning Notes – Monday April 27, 2020

Directional Bias For The Day: S&P Futures are higher; moving up since 1:00 AM on Friday from 2755.25 and after making a Bullish Divergence on 15-minute chart A symmetrical triangle is emerging on 15-minutes chart; a break below it will be short term bearish The odds are for an up day – watch for break…

Morning Notes – Friday April 24, 2020

Directional Bias For The Day: S&P Futures are higher; moving up since 1:00 AM from 2755.25 and after making a Bullish Divergence on 15-minute chart The odds are for an up day with elevated volatility – watch for break below 2793.50 for change of fortune Key economic data due: Durable Goods Orders (-14.4% vs. -12.0%…

Morning Notes – Thursday April 23, 2020

Directional Bias For The Day: S&P Futures are little changed; mostly moving sideways since 1:30 PM on Wednesday with a 30-point range The odds are for a sideways to down day with elevated volatility – watch for break above 2805.75 and break below 2773.00 for clarity Key economic data due: Unemployment Claims (4427K vs. 4350K…