U.S. equities surged to all-time highs on Wednesday, with major indexes posting their best day of the year, on the back of President Trump’s speech to Congress and a more hawkish Fed. The Dow advanced about 300 points to close above 21,000 for the first time, just 24 trading sessions after it first hit 20,000. That matches the fastest-ever move between thousand-point milestones, which last happened in 1999 and took the index above 11,000.
In Asia, Japan +0.9%. Hong Kong -0.2%. China -0.5%. India -0.5%.
In Europe, at midday, London flat. Paris +0.2%. Frankfurt +0.1%.
Futures at 6:20, Dow flat. S&P -0.1%. Nasdaq flat. Crude -0.8% to $53.41. Gold -0.6% to $1242.60.
Ten-year Treasury Yield flat at 2.47%
(Source: Seeking Alpha)
And the Winner Is? Hard working Mom & Pop IRA & 401(k) savings investors. With the indexes having rallied to all-time highs, capital appreciation has finally returned for the small guy. HOORAY!
Today is Cycle Day 1 (CD1)…This Power Cycle as we have been stating blew past all targets in prior session reaching 2400 roundie and key option strike price. Previous CD1 days have been below normal declines…Will today be any different? Average Decline on CD1 measures 2378 – 2380 zone.
Range Projections and Key Levels
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: March 2017 (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 converts PH (2401) to upper support, THEN current rally can continue to expand with upside measuring 2404.50 – 2408.75 STATX Zone, followed by 2412.
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
IMPORTANT NOTICE! No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. There is substantial risk of loss associated with trading securities and options on equities. Only risk capital should be used to trade. Trading securities is not suitable for everyone.
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CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN