Stocks across the globe are extending a rally from the previous session, after ECB President Mario Draghi signaled his willingness to add more stimulus to the eurozone’s flagging economies. “We are ready to act if needed…and we are open to the full menu of monetary policy,” Draghi said at his news conference. The euro fell 1.8% following the comments yesterday, the currency’s biggest drop since the central bank announced quantitative easing in January, and is now trading at $1.1104.
9:45 PMI Manufacturing Index Flash
Powerful Rally in prior session which was sparked on ECB President Mario Draghi’s willingness to expand monetary policy exceeded all upside targets. In overnight trade action, price continues to rise higher reaching Statistical Extreme CD3 Penetration Target of 2067.00.
Today is Cycle Day 3 (CD3)…NORMAL SPILL UP…As stated, upside targets have been exceeded with continuation rally…Next KEY SPOT is 2072.50.
***Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: December (Z) 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 (2054.00), THEN upside targets 2067.00 CD3 Penetration Target and 2075.50 KEY SPOT.
Scenario 2: IF price violates PH (2054.00), THEN downside retracement levels to be mindful of are 2051.25…2048.00…2040.50..2035.00.
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