- The rest of Asia was little-changed, but Europe’s down more than 1%, and Dow and S&P 500 futures are lower by 0.8%. Buoyed by a 10% gain in Facebook after its earnings last night, Nasdaq 100 futures are down 0.5%.
- The 10-year Treasury yield is lower by 1.5 basis points to 1.84%, gold is up a couple of dollars per ounce, and oil is flat.
In Asia, Japan -3.6% to 16666. Hong Kong -0.1% to 21347. China -0.1% to 9595. India -1.4% to 25699.
In Europe, at midday, London -0.9%. Paris -1.3%. Frankfurt -1.2%.
Futures at 6:20, Dow -0.8%, S&P -0.8%, Nasdaq -0.4%. Crude +0.2% to $45.41. Gold +0.7% to $1258.85.
Ten-year Treasury Yield -3 bps to 1.83%
(Source: Seeking Alpha)
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
11:30 Results of $15B, 2-Year FRN Auction
1:00 PM Results of $28B, 7-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
HOD Range Projection = 2088.85; LOD Range Projection = 2075.65; CD2 Maximum Penetration Level = 2103.38; CD2 Maximum Violation Level = 2058.23; Cycle Day 1 Low = 2076.25; 3 Day Central Pivot = 2085.00; 3 Day Cycle Target = 2098.68;10 Day Average True Range = 14.40.
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: June (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: Price will need to hold above 2071.00 key support and clear and convert CD1 Low (2076.25) to repel angry bears. Upside targets 2085.00 3 Day Central Pivot.
Scenario 2: Violation and conversion of 2071.00 opens trap door forcing selling with initial target 2065.25 down to 2058.23 Lower STATX Zone and CD2 Max Violation Level.
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