In Asia, Japan -1.3% to 16819 . Hong Kong +0.6% to 19288. China -0.7% to 2963 . India +1.1% to 24617.
In Europe, at midday, London +0.3%. Paris +0.4%. Frankfurt -0.1%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude +0.4% to $31.84. Gold +0.2% to $1159.40.
Ten-year Treasury Yield -1 bp to 1.85%
8:30 Non-farm payrolls
8:30 International Trade
1:00 PM Baker-Hughes Rig Count
3:00 PM Consumer Credit
Prior Session was “modestly quiet” as range contracted to 32 handles, as traders and investors seemingly took a break from the recent torrid trading pace to catch their breath…Do Algo’s need a break to “catch their breath?”
Today begins a new Cycle Day 1 (CD1)…NORMAL SPILL DOWN…Price currently sits about midway within current trading range as the 3 Day Central Pivot is 1902.75 and 5 Day Point of Control is 1906.00. Average True Range (10) = 37.03. Bulls need to convert 1923.50 for higher…Bears need to kill 1894.00 to push lower.. “Battle of the Bots” continues…
Range Projections and Key Levels:
HOD Range Projection = 1938.25; LOD Range Projection = 1877.50; 3 Day Cycle Target = 1926.00; Average Cycle Range Decline Target = 1881.50; Central Pivot = 1906.00; 3 Day Central Pivot Zone = 1901.25 – 1902.75.
**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: Bulls need to clear and convert PH (1922.25) for upside range expansion targeting 1926.00…1931.00….1932.50…1938.25 respectively.
Scenario 2: Bears need to first convert 1902.00 as new resistance…then kill 1894.00 SPOT to force selling targeting 1890 – 1886.25 STATX Zone…Cycle Range Decline Target = 1881.50.
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