In Europe, at midday, London -0.2%. Paris -0.5%. Frankfurt -0.2%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude +0.7% to $48.01. Gold -0.3% to $1243.70.
Ten-year Treasury Yield flat at 2.42%
(Source: Seeking Alpha)
S&P e-mini held above 2342 early and rallied to reach upside target as outlined in prior DTS Briefing 3.23.17 “Scenario 1: Bulls will need to hold above 2342 handle and convert 2348 to upper support. IF successful, THEN initial target is 2352.50 – 2356.50 3 Day Central Pivot Zone.”
Today is Cycle Day 2 (CD2)…Neutral consolidation day with current range marked between 2336 – 2356. The stage is set for a continuation move lower for bears targeting 2326 Cycle Range low or a stop-n-reverse for bulls above 2356 targeting 2364 Cycle Range High.
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: June 2017 (M) 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: Conversion of 2348 handle would be first sign of strength (SOS) initially targeting 2357.50 HOD Range Projection.
Scenario 2: Conversion below 2342 would be first sign of weakness (SOW) targeting 2332.50 LOD Range Projection.
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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