In Europe, at midday, London +0.1%. Paris -0.1%. Frankfurt -0.5%.
Futures at 6:20, Dow -0.1%. S&P -0.1%. Nasdaq -0.1%. Crude +1.3% to $52.38. Gold +1.1% to $1266.60.
Ten-year Treasury Yield -2 bps to 2.32%
(Source: Seeking Alpha)
8:30 Non-farm payrolls
10:00 Wholesale Trade
1:00 PM Baker-Hughes Rig Count
3:00 PM Consumer Credit
11:05 PM Fed’s Bullard speech on Sunday: U.S. Monetary and Economic Policy
Overnight sell-off in reaction to the “tomahawk-chop” cruise missile strike on Syrian Air Bases has reversed and is currently trading near pre-cash range high. New “war dynamic” has now entered into the trading equation, with key-word algorithms on high alert.
Today is Cycle Day 3 (CD3)… Test of 2338 low proved successful and market has potential to springboard higher. On caveat is today’s NFP Report. Cycle Range High measures 2359.00.
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: June 2017 (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: Key price zone to hold support is 2346 – 38 for bulls to springboard price higher targeting 2359 followed by 2362.50.
Scenario 2: Conversion of 2346 – 48 zone to resistance opens door to retest 2340 – 2338 zone.
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
IMPORTANT NOTICE! No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. There is substantial risk of loss associated with trading securities and options on equities. Only risk capital should be used to trade. Trading securities is not suitable for everyone.
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