In Europe, at midday, London -1.5%. Paris -1.6%. Frankfurt -0.8%.
Futures at 6:20, Dow -0.7%. S&P -0.7%. Nasdaq -0.8%. Crude -2.8% to $30.74. Gold -0.3% to $1124.40.
Ten-year Treasury Yield -2 bps to 1.93%
8:30 Gallup US ECI
8:55 Redbook Chain Store Sales
1:00 PM Fed’s George: Monetary policy and Economic Policy
S&P e-mini (ES) backed n filled holding above 1913.50 Key Pivot outlined in prior DTS Report 2.1.16. Afternoon strength pushed price higher reaching 1938 target which represented 75% of 10 Day Average True Range.
Today begins a new Cycle Day 1 (CD1)…NORMAL SPILL DOWN…Average Cycle Decline Target = 1900.50 Resistance is marked at 1932.50 SPOT. Support 1913.50 SPOT.
Range Projections and Key Levels:
HOD Range Projection = 1949.75; LOD Range Projection = 1888.75; Daily Pivot = 1927.00; Three Day Central Pivot Zone = 1911.00 – 1905.00.
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: March 2016 (H) 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 continues to hold above 1913.50, THEN initial upside target measure 1927.00…Above this level measure 1932.50.
Scenario 2: Today is CD1 and as such the normal spill is down…Initial resistance is marked at 1927.00 CP…IF price breaks down through 1913.50 THEN lower targets are 1908.00 – 1905.00. Below this zone measures 1900.50 Cycle Range Decline Target.
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