U.S. equities are once again positive for the year as a de-escalation between the U.S. and Iran led shares back to the black on Wednesday. Stepping away from military retaliation, President Trump said he would instead tighten sanctions on the Islamic Republic, prompting oil prices to drop below $60 a barrel. Focus returns to trade? Futures now suggest the DJIA will tack on another 100 points at the open as China confirmed Vice Premier Liu He will sign a “Phase 1” deal next week in Washington
In Asia, Japan +2.3%. Hong Kong +1.7%. China +0.9%. India +1.6%.
In Europe, at midday, London +0.6%. Paris +0.4%. Frankfurt +1.3%.
Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.4%. Crude +0.3% to $59.77. Gold -0.8% to $1548.30. Bitcoin -6% to $7862.
Ten-year Treasury Yield flat at 1.87%
Source: Seeking Alpha https://seekingalpha.com
8:30 Initial Jobless Claims
9:30 Fed’s Kashkari Speech
10:30 EIA Natural Gas Inventory
11:30 Fed’s Williams: “The Future of Inflation Targeting”
12:45 PM Fed’s Barkin Speech
1:00 PM Results of $16B, 30-Year Note Auction
1:20 PM Fed’s Evans Speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Today is Cycle Day 2 (CD2)…Price is holding onto gains made in prior session with new All-Time Highs. Further upside targets 3275 – 3283 zone.
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CD2 Range High = 3283.00 CD2 Range Low = 3250.00 CD2 Range Avg = 24.00
Bull Scenario: IF Bulls hold bid above 3268, THEN initial upside potential targets 3275 – 3283 zone.
Bear Scenario: IF Bears hold offer below 3268, THEN initial downside objective targets 3260 – 3254 zone.
Range Projections and Key Levels (ES) March 2020 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is holding onto gains made in prior session with new All-Time Highs. Further upside targets 8993 – 8995 zone.
CD2 Range High = 8995.00 CD2 Range Low = 8935.00 CD2 Range Avg = 82.00
Bull Scenario: IF Bulls hold bid above 8972, THEN initial upside potential targets 8993 – 8995 zone.
Bear Scenario: IF Bears hold offer below 8972, THEN initial downside objective targets 8958 – 8948 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
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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