Global stocks are in a sluggish trend just ahead of today’s European Central Bank meeting. Japan’s Nikkei average fell 0.7%, while Hong Kong’s Hang Seng dropped 0.9% and South Korea’s Kospi declined 0.5%. Chinese blue chip names also snapped a four-day winning streak.
In Asia, Japan -0.7%. Hong Kong -0.9%. China -2.0%. India +0.2%.
In Europe, at midday, London -0.5%. Paris -0.4%. Frankfurt -0.5%.
Futures at 6:20, Dow -0.1%. S&P -0.1%. Nasdaq +0.1%. Crude +0.6% to $56.53. Gold -0.1% to $1286.50. Bitcoin -0.6% to $3837.
Ten-year Treasury Yield Flat at 2.69%
Source: Seeking Alpha
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2758.50. Average Range for CD1 is 23.75 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 42%
CD1 Range High = 2785.00 CD1 Range Low = 2748.00 CD1 Range Avg = 23.75
Scenario 1: IF Bulls hold bid above 2774.00, THEN initial upside targets 2784 – 2789 zone.
Scenario 2: IF Bears hold offer below 2774.00, THEN initial downside targets 2761.50 CD1 Violation Level. Conversion of this level further measures 2758.00 CD1 Average Decline.
Range Projections and Key Levels (ES) March 2019 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7074.00 Average Range for CD1 is 54.50 handles. Odds of decline > 20 handles = 73% Odds of decline > 25 = 64%
CD1 Range High =7137.25 CD1 Range Low = 7057.75 CD1 Range Avg = 54.50
Scenario 1: IF Bulls hold bid above 7135.00, THEN initial upside targets 7143.50 – 7154.00 zone.
Scenario 2: IF Bears hold offer below 7135.00, THEN initial downside targets 7106.50 CD1 Violation Level. Failure to hold this level further targets 7090 Standard Deviation Statistical Extreme.
Range Projections and Key Levels (NQ) March 2019 (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.”
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