Directional Bias For The Day: Futures are sharply lower Moving down since 9:30 AM on May 16 20-bar EMA is acting as a resistance level Futures rose to 2367 during Asian session but are not down to 2350.00 Odds are for a down day; watch for break above 2360.75 for change of fortunes Key economic data: Unemployment Claims – 232K vs. 240K…

Directional Bias For The Day: Futures are sharply lower Moving down since 9:30 AM on May 16 Fresh down leg at 6:00 PM on May 16 Breaking below an up-sloping flag that was forming since 8:30 PM at 8:00 AM Odds are for a down day; watch for break above 2388.75 for change of fortunes No key economic data to be released…

Directional Bias For The Day: Futures are higher Generally moving up since 10:30 AM on May 11; small rounding bottom pattern since Monday’s high Odds are for an up day; watch for break below 2397.00 for change of fortunes Key Economic data: Building Permits (1.23M vs. 1.27M est.); Housing Starts (1.17M vs. 1.26M) at  8:30 AM Markets Around The World Markets in the East were…

Directional Bias For The Day: Futures are higher Generally moving up since 6:30 AM on Friday; new leg-up since 5:30 AM Odds are for an up day; watch for break below above 2388.75 for change of fortunes Key Economic data: Empire State Manufacturing Index: -1.0 vs. 7.2 est. 8:30 AM Markets Around The World Markets in the East were mostly positive – Tokyo closed down…

Directional Bias For The Day: Futures are higher Generally moving up since 11:30 AM on Monday; breaking above a flat range at 3:00 AM breaking above a horizontal channel – high 2397.75 and low of 2389.75 with target near 2407.75 Odds are working for an up day; watch for break below above 2393.00 for change of fortunes Key Economic data: JOLTS…

Directional Bias For The Day: Futures are lower Jumped up six points following French election at 6:00 PM on Sunday but are now lower Trading within a narrow horizontal channel since 7:00 PM on Sunday Competing forces are working for up and down move; for clarity watch for break below above 2397.25 and below 2392.25 No significant economic data on…

Directional Bias For The Day: Futures are flat Moving up since 12:00 AM Trading within a narrow horizontal channel for the past few days Odds are for a range bound day; watch for break below above 2390.75 and below 2379.00 for change of fortunes Dependent upon Non-Farm Payroll data – a good report may be bullish and bad one bearish Key economic data:…

Directional Bias For The Day: Futures are higher Moving up since 10:30 AM on May 3; at the upper limit of a horizontal channel on 30-minute chart Odds are for an up day; watch for break below above 2384.75 for change of fortunes Key economic data: Unemployment claims – at 8:30 AM Prelim Nonfarm Productivity and Prelim Labor Cost – at 10:00 AM Markets…

Directional Bias For The Day: Futures are lower Drifting lower since 2:00 PM on May 1; below a downtrend line Trading near the lower limit of a descending triangle on 30-min time frame Odds are for a down day within a range; watch for break above 2388.75 Key economic data: ADP Non-Farm Employment – 177K vs. 178K est. – at 8:30…

Directional Bias For The Day: Futures are flat Trading within a narrow range since 3:30 PM on May 1 Odds are for a range bound day; watch for break above 2390.25 and break below 2384.25 for change of fortunes Key economic data: Core PCE Price Index: -0.1% inline – at 8:30 AM Personal Spending – 0.0% vs. 0.2% est. – at…