U.S. stock index futures are suggesting a pause from Friday’s job-fueled rally as investors prepare for a series of major risk events later this week. Brexit is on watch ahead of a U.K. general election, a tariff deadline looms with China, and the Fed and ECB will hold their final policy meetings of the year.
In Asia, Japan +0.3%. Hong Kong flat. China +0.1%. India +0.1%.
In Europe, at midday, London -0.2%. Paris -0.4%. Frankfurt -0.1%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude -0.8% to $58.75. Gold +0.2% to $1467.50. Bitcoin -0.5% to $7488.
Ten-year Treasury Yield -2 bps to 1.82%
Source: Seeking Alpha https://seekingalpha.com
Today is Cycle Day 2 (CD2)…Price fulfilled 3 Day Cycle Target (3150.50) in prior trade session on the heals of strong NFP Report. Expectation for today is for some “back n fill” price action in search of new balance. Price is also within a whisker of retesting recent All-Time-High.
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CD2 Range High = 3171.00 CD2 Range Low = 3124.00 CD2 Range Avg = 32.00
Scenario 1: IF Bulls hold bid above 3140, THEN initial upside potential targets 3148 – 3151 zone.
Scenario 2: IF Bears hold offer below 3140, THEN initial downside objective targets 3136 – 3128 zone.
Range Projections and Key Levels (ES) December 2019 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price fulfilled 3 Day Cycle Target (8380.00) in prior trade session on the heals of strong NFP Report. Expectation for today is for some “back n fill” price action in search of new balance.
CD2 Range High = 8440.00 CD2 Range Low = 8355.00 CD2 Range Avg = 110.00
Scenario 1: IF Bulls hold bid above 8388, THEN initial upside potential targets 8405 – 8416 zone.
Scenario 2: IF Bears hold offer below 8388, THEN initial downside objective targets 8372 – 8355 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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