There’s another positive session in store for Wall Street, with U.S. stock index futures pointing to gains of 0.3%. Market focus is largely attuned to central bank expectations, with the Fed due to kick-off its two-day policy meeting later in the session. Most investors expect the FOMC to strike a dovish tone and lower its “dot plot” to show little or no further tightening in 2019.
In Asia, Japan -0.1%. Hong Kong +0.2%. China -0.2%. India +0.7%.
In Europe, at midday, London +0.4%. Paris +0.5%. Frankfurt +0.8%.
Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.3%. Crude +0.6% to $59.76. Gold +0.6% to $1308.80. Bitcoin +0.8% to $4001.
Ten-year Treasury Yield flat at 2.59%
(Source: Seeking Alpha)
Today is Cycle Day 3 (CD3)…Price has vaulted higher pre-RTH above prior high and has fulfilled initial upside target 2850.50 CD3 Penetration Level. Further upside measures 2859.25 – 2862.75 ATR Cycle Range Zone.
CD3 Range High = 2862.75 CD3 Range Low = 2829.50 CD3 Range Avg = 23.50
Scenario 1: IF Bulls hold bid above 2842.00, THEN initial upside target measures 2851 CD3 Penetration Level.
Scenario 2: IF Bears hold offer below 2842.00, THEN initial downside target measures 2836 – 2833 zone.
Range Projections and Key Levels (ES) June (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 …Price has pushed higher in pre-RTH trade above prior high and closing in on initial target 7401 CD3 Penetration Level.
CD3 Range High = 7412.00 CD3 Range Low = 7335.50 CD3 Range Avg = 56.50
Scenario 1: IF Bulls hold bid above 7379.50, THEN initial upside potential targets 7401.00 – 7412.00 CD3 Range Penetration Zone.
Scenario 2: IF Bears hold offer below 7379.50, THEN initial downside targets 7335.50 – 7325.00 3 Day Central Pivot Zone.
Range Projections and Key Levels (NQ) June (M) 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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