U.S. stock index futures are ahead by 0.6% as the S&P 500 points to a major inflection point at 2,800, a level widely watched by technical analysts and nearly everyone else. Data yesterday showed gross domestic product rising 2.9% in 2018, just shy of the Trump administration’s 3% target. White House economic advisor Larry Kudlow also said Chinese trade talks between high-level officials had been “fantastic,” and both sides were on track to reach a “remarkable, historic deal.”
In Asia, Japan +1%. Hong Kong +0.6%. China +1.8%. India +0.6%.
In Europe, at midday, London +0.6%. Paris +0.7%. Frankfurt +1.2%.
Futures at 6:20, Dow +0.7%. S&P +0.6%. Nasdaq +0.8%. Crude +0.4% to $57.42. Gold -0.5% to $1310.20. Bitcoin -0.3% to $3807.
Ten-year Treasury Yield +2 bps to 2.73%
(Source: Seeking Alpha)
Today is Cycle Day 3 (CD3)…Price is rallying in GLOBEX trade fulfilling 2803 3 Day Cycle. Further upside is possible IF bulls convert to upper support.
CD3 Range High = 2806.50 CD3 Range Low = 2780.00 CD3 Range Avg = 23.50
Scenario 1: IF price holds bid above 2790.00, THEN initial upside target measures 2800 – 2805 3 Day Cycle Target Zone.
Scenario 2: IF price holds offer below 2790.00, THEN initial downside target measures 2785 – 2780 ATR Range Low Zone.
Range Projections and Key Levels (ES) March (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 …Price is rallying in GLOBEX trade fulfilling 7115.50 Day Cycle, continuing to push higher reaching 7152 – 7154 CD3 Penetration Zone.
CD3 Range High = 7154.50 CD3 Range Low = 7103.50 CD3 Range Avg = 56.00
Scenario 1: IF price holds bid above 7130.75, THEN initial upside potential targets 7152.00 – 7154.00 CD3 Penetration Zone.
Scenario 2: IF price holds offer below 7130.75, THEN initial downside targets 7110.25 – 7101.25 3 Day Central Pivot Zone.
Range Projections and Key Levels (NQ) March (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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