In Europe, at midday, London -0.5%. Paris -0.3%. Frankfurt -0.1%.
Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.2%. Crude -0.7% to $50.01. Gold -0.3% to $1244.40.
Ten-year Treasury Yield flat at 2.41%
(Source: Seeking Alpha)
Today is Cycle Day 1 (CD1)…Average Decline (11.25) on CD1 measures 2355 which is also the 3 Day Central Pivot. This will be level for support test today and should this fail to hold, then lower levels targeting 2350 – 2345 may come into play.
It’s Quarter End, so some window-dressing is expected, though we cannot rule out the “walk-away trade” during the afternoon session.
Range Projections and Key Levels
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: June 2017 (M) Contract
*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.
Scenario 1: Bulls must keep price firm above 2355 – 53 zone for support and push above 2362 -65 to clear recent resistance.
Scenario 2: Bears need to convert 2353 – 50 to initial lower resistance in order to push for 2345 handle.
Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus on Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.
Stay Focused…Non-Biased…Disciplined ALWAYS USE STOPS!
“Knowing is not enough, We must APPLY. Willing is not enough, We must DO.” –Bruce Lee
*****This trade strategy report is disseminated for “education only” and should not be viewed in any way as a recommendation to buy or sell futures products.”
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