U.S. futures are up this morning as the earnings season kicks off with several major financial earnings reports. BlackRock (NYSE:BLK), Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Wells Fargo (NYSE:WFC) and JPMorgan Chase (NYSE:JPM) are scheduled to report before the bell,
In Asia, Japan +1.87%. Hong Kong -0.07%. China -0.56%. India +0.78%.
In Europe, at midday, London -0.11%. Paris +0.51%. Frankfurt +0.46%.
Futures at 6:20, Dow +0.40%. S&P +0.40%. Nasdaq +0.50%. Crude -2% to $52.54. Gold +0.10% to $1,499.10. Bitcoin -0.16% to $8,309.
Ten-year Treasury Yield -6.7 bps to 1.686%.
Source: Seeking Alpha https://seekingalpha.com
Today is Cycle Day 2 (CD2)…This cycle’s minimum rally objective (3002) is half-way completed as price stalled at 2982 “scene-of-the-crime” (SOC) breakdown point. Being a CD2 Session, price may pause and consolidate recent gains before attempting to push above this level. Prior Close (2966.25) is now “key-marker”.
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CD2 Range High = 2930.25 CD2 Range Low = 2932.75 CD2 Range Avg = 49.75
Scenario 1: IF Bulls hold bid above 2972, THEN initial upside potential targets 2982 – 2992 zone.
Scenario 2: IF Bears hold offer below 2972, THEN initial downside objective targets 2962 – 2952 zone.
Range Projections and Key Levels (ES) December 2019 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)… This cycle’s minimum rally objective (7867) is complete as price stalled at prior swing high. Being a CD2 Session, price may pause and consolidate recent gains before attempting to push above this level. Prior Close (7859.75) is now “key-marker”.
CD2 Range High = 8024.00 CD2 Range Low = 7744.00 CD2 Range Avg = 164.50
Scenario 1: IF Bulls hold bid above 7867, THEN initial upside potential targets 7895 – 7918 zone.
Scenario 2: IF Bears hold offer below 7867, THEN initial downside objective targets 7840 – 7822 zone.
Range Projections and Key Levels (NQ) December 2019 (Z) 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.”
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