Friday Free Watch List

Good morning team,

Futures are slightly in the red this morning.  I spoke about in chat yesterday about how I think the market needs a little breather.  Its taken such a big jump up that I think it needs the weekend to rest.  I don’t think that we end far down today but I would be surprised if we have more than a 5-10pt. Green day on SPX.  In fact 2860 on /ES was a price point I have had on my chart for a few days and I wouldn’t be surprised to end the day around there.  Which is right around the top of the candle on Monday’s red day.   We still have bearish momentum on the daily chart so I don’t expect these rallys to continue.   I think we could very easily retest 2808 beginning of next week.  I however, will not be making that bet today as I can not watch the market most of the day.  If you are trading today good luck, also remember its monthly expiration day on options which is usually a little more volatile.  

Today I will be managing my portfolio from my phone and will check in on chat if anyone has questions.  Overall I plan on taking today easy as I promised my wife some time off with her.  Happy weekend all.

Economic Calendar: 

·      10:00 AM EST             Leading Index for April

·      10:00 AM EST             University of Michigan Sentiment, May-P

·      11:15 AM EST             Fed’s Williams meets with Community Leaders

·      1:00 PM EST               Baker Hughes Weekly Rig Count

Earnings Calendar:

·      Earnings Before the Open: DE

Other Key Events:

·      No Major Events