The Labor Department’s closely watched monthly employment report this morning could buttress the Fed’s assessment that both the economy and monetary policy are in a “good place.” U.S. stock futures are pointing to more records (Dow 29K?) ahead of the data, which is expected to show nonfarm payrolls increasing by 164,000 in December, a near 50-year low unemployment rate of 3.5%, along with modest wage gains.
In Asia, Japan +0.5%. Hong Kong +0.3%. China -0.1%. India +0.4%.
In Europe, at midday, London flat. Paris +0.1%. Frankfurt +0.3%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.4%. Crude -0.2% to $59.46. Gold -0.3% to $1549.30. Bitcoin -1.1% to $7808.
Ten-year Treasury Yield flat at 1.86%
(Source: Seeking Alpha) https://seekingalpha.com/
Today is Cycle Day 3 …Price has fulfilled 3 Day Cycle and exceeded objectives. This sets up a “wildcard” day for today’s session. During overnight trade price has fulfilled 3285 – 3286 CD3 Penetration Target.
Bulls are clearly in control, so it so would take a violation and conversion of PC (3275.25) to stop to upward advance.
As PTG Trade Strategy states: 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.
CD3 Range High = 3296.00 CD3 Range Low = 3266.00 CD3 Range Avg = 21.00
Bull Scenario: IF Bulls hold bid above 3275, THEN initial upside targets 3285 – 3286 CD3 Penetration Zone.
Bear Scenario: IF Bears hold offer below 3275, THEN initial downside targets 3265 – 3262 range zone.
Range Projections and Key Levels (ES) March 2020 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3…During overnight trade price has fulfilled 9045.50 – 9054.75 CD3 Penetration Target.
CD3 Range High = 9068.00 CD3 Range Low = 8978.00 CD3 Range Avg = 78.00
Bull Scenario: IF Bulls hold bid above 9008, THEN initial upside potential targets 9045.50 – 9054.75 CD3 Penetration Zone.
Bear Scenario: IF Bears hold offer below 9008, THEN initial downside targets 8995 – 8978 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
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