Stocks across the globe are going green again as investors digest the Phase One trade deal, which is expected to nearly double U.S. exports to China over the next two years. Shanghai is ahead by 0.6% and the Euro Stoxx 50 up 0.8%, while S&P 500 and Nasdaq futures are 0.4% higher and the Dow is expected to tack on 60 points at the open. Over in Britain, the FTSE 100 is advancing 2% for a second session on reduced uncertainty as Prime Minister Boris Johnson eyes a parliament vote before Christmas to “get Brexit done.”
In Asia, Japan -0.3%. Hong Kong -0.7%. China +0.6%. India -0.2%.
In Europe, at midday, London +2%. Paris +0.8%. Frankfurt +0.5%.
Futures at 6:20, Dow +0.2%. S&P +0.4%. Nasdaq +0.4%. Crude -0.1% to $60.03. Gold flat at $1481.70. Bitcoin -0.7% to $7051.
Ten-year Treasury Yield +2 bps to 1.84%
Source: Seeking Alpha https://seekingalpha.com/
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 3162. Average Range for CD1 is 30.00 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 44%
CD1 Range High = 3207.00 CD1 Range Low = 3166.00 CD1 Range Avg = 30.00
Scenario 1: IF Bulls hold bid above 3185, THEN initial upside targets 3197 – 3203 CD1 Penetration Zone.
Scenario 2: IF Bears hold offer below 3185, THEN initial downside targets 3175 – 3168 zone.
Range Projections and Key Levels (ES) March 2020 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 8465.00. Average Range for CD1 is 103.00 handles. Odds of decline > 20 handles = 75% Odds of decline > 25 = 67%
CD1 Range High =8588.00 CD1 Range Low = 8510.00 CD1 Range Avg = 103.00
Scenario 1: IF Bulls hold bid above 8553, THEN initial upside targets 8571 – 8588 CD1 Penetration Zone.
Scenario 2: IF Bears hold offer below 8553, THEN initial downside targets 8540 – 8530 zone.
Range Projections and Key Levels (NQ) March 2020 (H) Contract
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
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