American employers likely stepped up hiring in February, in a sign of labor market strength that could further ease fears of a recession and allow the Fed to gradually raise interest rates this year. The U.S. Labor Department’s report (due out at 8:30 a.m. ET), is expected to show nonfarm payrolls increasing by 190K jobs last month, with the unemployment rate holding at an eight-year low of 4.9%. Economists will also be looking to see whether wages – which gained an impressive 0.5% in January – maintained their forward momentum.
In Asia, Japan +0.3% to 17015. Hong Kong +1.2% to 20177. China +0.5% to 2874. India +0.2% to 24646.
In Europe, at midday, London +0.8%. Paris +0.7%. Frankfurt +0.9%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.2%. Crude +0.2% to $34.64. Gold +1.2% to $1273.60.
Ten-year Treasury Yield flat at 1.83%
(Source: Seeking Alpha)
8:30 International Trade
10:45 Fed’s Kaplan: Monetary Policy
1:00 PM Baker-Hughes Rig Count
S&P e-mini (ES) continued to consolidate gains keeping upswing trend intact, as everyone awaits the monthly NFP Report today. Overnight trade is marginally higher is relative quiet trade…Price is holding above 1986.25 Central Pivot and Prior High (1991.75).
Today is Cycle Day 3 (CD3)…NORMAL SPILL UP…Bullish momentum remains solidly intact as price is within striking distance of 2005.94, this Cycle’s Rally Target. Barring any disruption with Jobs Report, bulls have total control should they decide to push on to higher levels. Options Strike Price 2000 has a high concentration of Calls & Puts Open Interest.
Range Projections and Key Levels:
HOD Range Projection = 2014.13; LOD Range Projection = 1967.37; CD3 Maximum Penetration Level = 2008.31; CD3 Maximum Violation Level = 1960.83; Cycle Day 1 Low = 1966.25; 3 Day Central Pivot = 1974.25; 3 Day Cycle Target = 2005.94; 10 Day Average True Range = 27.13.
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: March 2016 (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 2: Failure to hold above PH (1991.75) targets 1986.25 – 1983.75 Central Pivot Zone. Violation of this zone projects 1979.00 – 1974.25 3 Day Central Pivot Zone. Keep in mind 1975 Strike Price also has large Open Interest.
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