In Asia, Japan -0.5%. Hong Kong +0.2%. China +0.2%. India +0.8%.
In Europe, at midday, London -0.3%. Paris -0.4%. Frankfurt -0.4%.
Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.2%. Crude -0.7% to $52.94. Gold +0.3% to $1230.50.
Ten-year Treasury Yield -2 bps to 2.47%
(Source: Seeking Alpha)
S&P remains in a low volatility rut as 10-day Average True Range is stuck near 13.75…Intra-day trade opportunities are illusive as price has pulled back testing the 2368 breakout level.
Today is Cycle Day 3 (CD3)…Price is currently trading below CD1 Low (2378.00) and will need to trade above to notch a Positive 3 Day Cycle. Bulls still need to shift price above 2382 – 2383 which is now the 3 Day Central Pivot 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: Bulls need to hold above 2368 handle and convert 2378 back to upper support. IF successful, THEN next objective will be to push for 2382 – 2384 zone. Cycle Range High measures 2391.00.
Scenario 2: Bears have an opening if price can remain below 2378..2382 – 84 zone and push for a conversion below 2368 handle. Cycle Range Low measures 2358.48.
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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