Morning Notes – Wednesday April 22, 2020

Directional Bias For The Day: S&P Futures are higher; rising since 8:00 PM The odds are for an up day with elevated volatility – watch for break below 2728.25 for change of fortune Key economic data due: HPI ( 0.4% est.; prev. 0.3%) at 9:00 AM Directional Bias Before Open: Weekly: In Correction Daily: In…

Morning Notes – Tuesday April 21, 2020

Directional Bias For The Day: S&P Futures are lower; fresh leg down since 3:00 AM; The odds are for a down day with elevated volatility – watch for break above 2778.75 for change of fortune Key economic data due: Existing Home Sales ( 5.27M est.; prev. 5.77M) at 10:00 AM Directional Bias Before Open: Weekly:…

Morning Notes – Monday April 20, 2020

Directional Bias For The Day: S&P Futures are lower; fresh leg down since 12:00 AM; The odds are for a down day with elevated volatility – watch for break above 2860.25 for change of fortune No key economic data due: Directional Bias Before Open: Weekly: In Correction Daily: In Correction 120-Min: Side-Up 30-Min: Up-Side-Down 15-Min:…

Morning Notes – Friday April 17, 2020

Directional Bias For The Day: S&P Futures are higher; sideways to down 6:00 PM after gapping up more than 30 points from 5:00 PM close; The odds are for an up day with elevated volatility – watch for break below 2831.00 for change of sentiments Key economic data due: CB Leading Index ( -7.1% est.;…

Morning Notes – Thursday April 16, 2020

Directional Bias For The Day: S&P Futures are higher; declining since making a high of 2806.25 of 2:30 AM to near 2775.00 The odds are for a down to sideways day with elevated volatility – watch for break above 2794.75 for change of fortune Key economic data due: Unemployment Claims ( 5350K est.; prev. 6606K)…

Morning Notes – Wednesday April 15, 2020

Directional Bias For The Day: S&P Futures are lower; The odds are for a down day with elevated volatility – watch for break above 2795.00 for change of fortune Key economic data due: Retail Sales ( -8.7% vs. -8.0% est.; prev. -0.4%) at 8:30 AM Core Retail Sales ( -4.5% vs. -4.9% est.; prev. -0.4%)…

Morning Notes – Tuesday April 14, 2020

Directional Bias For The Day: S&P Futures are higher; The odds are for an up to sideways day with elevated volatility – watch for break below 2752.00 for change of fortune A symmetrical triangle is emerging on 30-minute chart indicating indecision; break up or down will provide clarity Key economic data due: Earning season starts…

Morning Notes – Monday April 13, 2020

Directional Bias For The Day: S&P Futures are lower; European markets are closed due to Easter Monday The odds are for a sideways to an up day with elevated volatility – watch for break below 2752.25 for change of fortune No key economic data due: Directional Bias Before Open: Weekly: In Correction Daily: In Correction…

Morning Notes – Thursday April 9, 2020

Directional Bias For The Day: S&P Futures are higher; The odds are for an up day with elevated volatility – watch for break below 2727.50 for change of fortune Key economic data due: Fed 2.3T Loan Program Announcement Unemployment Claims (6606K vs. 5000K est.; prev. 6867K) at 8:30 AM Core PPI ( 0.2% vs. 0.0%…

Morning Notes – Wednesday April 8, 2020

Directional Bias For The Day: S&P Futures are higher; The odds are for a down to sideways day from pre-open levels; elevated volatility – watch for break above 2680.50 for change of fortune Key economic data due: FOMC Meeting Minutes Directional Bias Before Open: Weekly: In Correction Daily: In Correction 120-Min: Up-Side 30-Min: Up-Side 15-Min:…