In Europe, at midday, London +0.9%. Paris +0.6%. Frankfurt +0.6%.
Futures at 6:20, Dow +0.8%. S&P +0.8%. Nasdaq +0.8%. Crude -0.3% to $46.45. Gold -0.1% to $1252. Bitcoin +10% to $3816.
Ten-year Treasury Yield flat at 2.82%
7:00 MBA Mortgage Applications
8:30 Current Account
10:00 Existing Home Sales
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
2:00 PM FOMC Forecast
2:00 PM Chairman Press Conference
S&P 500
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2525.00. Average Range for CD1 is 52.00 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 42%
CD1 Range High = 2582.72 CD1 Range Low = 2509.75 CD1 Range Avg = 52.00
***Twitter Note: $ES_F “Tuesday was a CD3. Markets tried to rally but failed and produced a FAILED 3 DAY RALLY. Bearish unless reversed tomorrow. Tomorrow will be a CD1. The Decline is already in place. Therefore the rally could start at any time.”
Scenario 1: IF price holds bid above 2546.50, THEN initial upside targets 2558 handle. Conversion of this level to upper support further targets 2570 – 2577.50 3 Day Central Pivot Zone.
Scenario 2: IF price holds offer below 2546.50, THEN initial downside targets 2538 handle. Conversion of this level to lower resistance further targets 2530 – 2525 CD1 Average Decline.
Range Projections and Key Levels (ES) March 2019 (H) Contract
HOD ATR Range Projection: 2586.00; LOD ATR Range Projection: 2506.50; 3 Day Central Pivot: 2577.50; 3 Day Cycle Target: 2577.50; 10 Day Average True Range 55.00; VIX: 25.00
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 6414.00. Average Range for CD1 is 174.00 handles. Odds of decline > 20 handles = 73% Odds of decline > 25 = 64%
CD1 Range High = 6632.00 CD1 Range Low = 6374.00 CD1 Range Avg = 174.00
Scenario 1: IF price holds above 6500, upside targets 6542 – 6563 3 Day Central Pivot Zone. Conversion of 6563 to upper support further targets 6585 – 6598 Penetration Zone.
Scenario 2: IF price holds offer below 6500, THEN downside targets 6480 – 6458 zone. Conversion of this zone below 6558 further targets 6438.50 – 6424.25 STATX Zone.
Range Projections and Key Levels (NQ) March 2019 (H) Contract
HOD ATR Range Projection: 6626.50; LOD ATR Range Projection: 6381.00; 3 Day Central Pivot: 6563.00; 3 Day Cycle Target: 6628.00; 10 Day Average True Range: 167.00; VIX: 25.00
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. Chttps://www.dropbox.com/s/z4wbib8pu9e9ovt/NQ%2012.14.18.jpg?dl=0ntinue 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!
Good Trading…David
“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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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