In Europe, at midday, London flat. Paris -0.1%. Frankfurt flat.
Futures at 6:20, Dow -0.1%. S&P -0.1%. Nasdaq -0.1%. Crude -0.3% to $49.35. Gold -0.3% to $1253.30.
Ten-year Treasury Yield flat at 2.38%
(Source: Seeking Alpha)
8:30 GDP Q4
8:30 Initial Jobless Claims
8:30 Corporate Profits
9:45 Bloomberg Consumer Comfort Index
9:45 Fed’s Mester Speech
10:30 EIA Natural Gas Inventory
11:00 Fed’s Kaplan Speech
3:00 Farm Prices
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
4:30 PM Fed’s Dudley: “The Importance of Financial Conditions in the Conduct of Monetary Policy”
S&P held consolidation within 2348 – 2359 parameters outlined in prior DTS Briefing 3.29.17 during yesterday’s
Today is Cycle Day 3 (CD3)…Cycle targets have been achieved and tested…As such, if price fails to carry higher then price could begin to decline testing 2352 – 2348 zone for support surety. There may be some window-dressing as 1st Quarter comes to a close.
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: IF price clears and converts PH (2359.75), THEN further upside expansion measures 2369 – 2372 zone.
Scenario 2: Violation and conversion of 2352 SPOT to lower resistance opens door for deeper downside test of key support @ 2348 and 2345 3 Day Central Pivot.
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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