U.S. stock index futures are pointing to a lower open, with Dow futures down 48 points and the S&P 500 and Nasdaq slightly in the red. Shares in Europe and Asia were mixed overnight, with only China seeing some significant gains, closing the session up 1.6%.
In Asia, Japan -0.6%. Hong Kong +0.3%. China +1.6%. India +0.5%.
In Europe, at midday, London +0.2%. Paris -0.1%. Frankfurt -0.2%.
Futures at 6:20, Dow -0.2%. S&P -0.1%. Nasdaq -0.1%. Crude -0.8% to $56.12. Gold +0.1% to $1286.20. Bitcoin +3.3% to $3843.
Ten-year Treasury Yield flat at 2.72%
(Source: Seeking Alpha)
Today is Cycle Day 3 (CD3)…Price has fulfilled its 3 Day Cycle Objective (2795.25) and currently trading near 5-day Volume Trend Midpoint. Bears need range expansion below 2784, while Bulls are looking for range expansion above 2800 Roundie. Tug-O-War continues…Stay-Tuned!
CD3 Range High = 2805.00 CD3 Range Low = 2767.50 CD3 Range Avg = 23.50
Scenario 1: IF Bulls holds bid above 2790.00, THEN initial upside target measures 2795 – 2800 zone.
Scenario 2: IF Bears holds offer below 2790.00, THEN initial downside target measures 2784 – 2778 VAL (5).
Range Projections and Key Levels (ES) March (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 …Price has fulfilled its 3 Day Cycle Objective (7142.00) and currently trading near 5-day Volume Trend Midpoint. Bears need range expansion below 7124.25, while Bulls are looking for range expansion above 7182.00. Tug-O-War continues…Stay-Tuned!
CD3 Range High = 7195.00 CD3 Range Low = 7110.00 CD3 Range Avg = 56.25
Scenario 1: IF Bulls holds bid above 7156.00, THEN initial upside potential targets 7168 – 7182 zone. Conversion of this zone opens skylight to expand targeting 7195 – 7203.50 zone.
Scenario 2: IF Bears holds offer below 7156.00, THEN initial downside targets 7143.00 – 7125.00 zone. Conversion of this zone opens trap door down to 7110.00 – 7093 range low zone.
Range Projections and Key Levels (NQ) March (H) 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.”
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
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