In Europe, at midday, London +0.4%. Paris +0.6%. Frankfurt +0.7%.
Futures at 6:20, Dow +0.3%. S&P +0.4%. Nasdaq +0.6%. Crude +0.1% to $64.44. Gold -0.1% to $1328.10. Bitcoin -5.8% to $7480.
Ten-year Treasury Yield flat at 2.76%
8:30 Initial Jobless Claims
8:30 Personal Income and Outlays
9:45 Bloomberg Consumer Comfort Index
9:45 Chicago PMI
10:00 Consumer Sentiment
10:30 EIA Natural Gas Inventory
1:00 PM Fed’s Harker: Economic Outlook
1:00 PM Baker-Hughes Rig Count
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Today is Cycle Day 2 (CD2)…Price is extending its consolidation pattern from prior session as last trading day of quarter before long Easter Holiday break. Short-term trend remains bearish below 3 Day Central Pivots. Current range 2593 – 2630.
Scenario 1: IF price clears and converts 2626, THEN odds favor a push higher to test 2630 key resistance.
Scenario 2: IF price violates and converts 2604, THEN odds favor pushing to retest 2593 handle.
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is extending its consolidation pattern from prior session as last trading day of quarter before long Easter Holiday break. Short-term trend remains bearish below 3 Day Central Pivots. Current range 6421.00 – 6580.
Scenario 1: IF price clears and converts 6540.00, THEN odds favor a push higher to test 6580.50 key resistance.
Scenario 2: IF price violates and converts 6470.00 to resistance, THEN odds favor push down to retest 6421 handle.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6650.12; LOD ATR Range Projection: 6355.63; Cycle Day 1 Low: 6421.00; 3 Day Central Pivot: 6607.00; 3 Day Cycle Target: 6613.50; 10 Day Average True Range: 181.12; VIX: 22.29
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.”
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
IMPORTANT NOTICE! No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. There is substantial risk of loss associated with trading securities and options on equities. Only risk capital should be used to trade. Trading securities is not suitable for everyone.
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