In Europe, at midday, London flat. Paris +0.3%. Frankfurt +0.3%.
Futures at 6:20, Dow +0.2%. S&P flat. Nasdaq flat. Crude +0.8% to $61.93. Gold -0.1% to $1321.10. Bitcoin -4.4% to $15471.
Ten-year Treasury Yield flat at 2.47%
12:30 PM TD Ameritrade IMX
12:40 PM Fed’s Bostic Speech
1:35 PM Fed’s Williams:Economic Outlook and Monetary Policy
3:00 PM Consumer Credit
S&P 500 (ES)
Today is Cycle Day 1 (CD1)…Normal is for some magnitude decline with average measuring 2627.00. Overnight trade saw price pop above PH (2743.25) and reverse back lower, currently trading 2339. We will use 2743.25 as resistance to set up potential normal CD1 decline scenario.
Nasdaq 100 (NQ)
NAZ reversed below PH (6671.00) during overnight trade which sets up potential to reach 6622 normal CD1 decline.
Range Projections and Key Levels (ES)
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: March 2018 (ESH) 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: IF price clears and converts PH (2743.25), THEN upside measures 2752 – 54 zone.
Scenario 2: IF price fails to converts PH (2743.25), THEN downside measures 2735.86, followed by 2731 – 2727 zone.
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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