The S&P closed higher for the fifth consecutive session on Tuesday, notching its longest winning streak since November. Stronger-than-expected housing data continued to support the bullish case for stocks as investors await more details about a preliminary trade agreement between the U.S. and China. Futures contracts linked to the DJIA are now up by 24 points, while S&P 500 and Nasdaq futures are ahead by 0.1%.
In Asia, Japan -0.6%. Hong Kong +0.2%. China -0.2%. India +0.5%.
In Europe, at midday, London +0.1%. Paris +0.1%. Frankfurt -0.2%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude -0.7% to $60.45. Gold +0.2% to $1483.30. Bitcoin -3.7% to $6622.
Ten-year Treasury Yield -2 bps to 1.87
(Source: Seeking Alpha) https://seekingalpha.com/
Today is Cycle Day 3 …Price is holding and consolidating recent gains above 3192 marked as “key support” in prior DTS Briefing 12.17.19. Also stated in prior report and worth repeating: “Price action is expected to be influenced this week by Quadruple Expiration for Options Contracts as well as continuation of Futures Contract Rollover to March (H) 2020 front month.”
Key Options Expiration Strike Prices: 3175…3200…3225..3250
As PTG Trade Strategy states: 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.
CD3 Range High = 3216.00 CD3 Range Low = 3175.00 CD3 Range Avg = 28.00
Scenario 1: IF Bulls hold bid above 3200, THEN initial upside targets 3213 – 3220 zone.
Scenario 2: IF Bears hold offer below 3200, THEN initial downside targets 3188 – 3180 zone.
Range Projections and Key Levels (ES) March 2020 (H) Contract
Nasdaq 100 (NQ)
CD3 Range High = 8655.00 CD3 Range Low = 8555.00 CD3 Range Avg = 99.00
Scenario 1: IF Bulls hold bid above 8610, THEN initial upside potential targets 8627 – 8650 zone.
Scenario 2: IF Bears hold offer below 8610, THEN initial downside targets 8580 – 8562 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.”
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