The yield on the benchmark 10-year Treasury note is ticking lower, down 2 bps to 2.59%, as investors await a policy decision by the Federal Reserve. The U.S. central bank is widely expected to keep rates steady and lower its “dot plot,” boosting U.S. stock index futures overnight by 0.2%. Jerome Powell has also signaled an announcement on when the Fed will end the runoff of its $4T portfolio later this year, as well as disclosing the right combination of Treasury’s to hold.
In Asia, Japan +0.2%. Hong Kong -0.5%. China flat. India +0.1%.
In Europe, at midday, London flat. Paris -0.1%. Frankfurt -1.3%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude -0.9% to $58.78. Gold -0.3% to $1303. Bitcoin +0.5% to $3988.
Ten-year Treasury Yield -2 bps to 2.59%
Source: Seeking Alpha
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2828.00 (FULFILLED). Average Range for CD1 is 31.25 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 43%
CD1 Range High = 2859.00 CD1 Range Low = 2818.00 CD1 Range Avg = 31.25
Scenario 1: IF Bulls hold bid above 2838, THEN initial upside targets 2848 – 2852 zone.
Scenario 2: IF Bears hold offer below 2838, THEN initial downside targets 2818 – 2812 zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7366.75 (FULFILLED. Average Range for CD1 is 55.00 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 65%
CD1 Range High =7408.00 CD1 Range Low = 7337.50 CD1 Range Avg = 55.00
Scenario 1: IF Bulls hold bid above 7376.00, THEN initial upside targets 7396 – 7408 zone.
Scenario 2: IF Bears hold offer below 7376.00, THEN initial downside targets 7355 – 7350 3 Day Central Pivot Zone.
Range Projections and Key Levels (NQ) June 2019 (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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