In Europe, at midday, London -0.3%. Paris flat. Frankfurt +0.2%.
Futures at 6:20, Dow +0.1%. S&P flat. Nasdaq flat. Crude flat at $57.35. Gold -0.3% to $1277.20.
Ten-year Treasury Yield +1 bps to 2.33%
8:30 Gallup US ECI
8:55 Redbook Chain Store Sales
10:00 Job Openings and Labor Turnover Survey
1:00 PM Results of $24B, 3-Year Note Auction
3:00 PM Consumer Credit
3:00 PM Janet Yellen speech
S&P 500 (ES)
Tuesday is Cycle Day 1 (CD1)…Normal is for decline with average measuring 2568.50. prior DTS Briefing 11.6.17 stated: “S&P 500 futures (ES) have achieved 3 Day Cycle target…Additional upside targets…2589.50 – 2591 zone.”
In overnight trade 2591 extension target has been reached as uptrend remain intact. It would take a break and conversion below 2572 key support marker to shift sentiment.
Nasdaq 100 (NQ)
We stated in prior DTS Briefing: “Nazzie (NQ)…Key support marker is 6250. Upside targets measure 6316, followed by 6331 handle.”
Current overnight high is 6331.50…As such upside target outlined above has been achieved. Key support marker has been adjusted to 6285 handle.
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: December 2017 (ESZ) 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: Upside penetration target measures 2598 – 2600 zone.
Scenario 2: Downside violation target measures 2571 – 2568 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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN