A move by the White House on Friday to remove steel import tariffs on Canada and Mexico added to optimism overnight, but U.S. stock index futures have now turned around, pointing to opening losses of 100 points for the DJIA.
In Asia, Japan +0.2%. Hong Kong -0.6%. China -0.4%. India +3.8%.
In Europe, at midday, London -0.8%. Paris -1.3%. Frankfurt -1.3%.
Futures at 6:20, Dow -0.4%. S&P -0.4%. Nasdaq -1%. Crude +0.3% to $63.10. Gold -0.1% to $1275. Bitcoin -1.1% to $8017.
Ten-year Treasury Yield +1 bps to 2.4%
Source: Seeking Alpha
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2854.50 (FULFILLED). Average Range for CD1 is 29.50 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 43%
CD1 Range High = 2871.75 CD1 Range Low = 2847.00 CD1 Range Avg = 29.50
Scenario 1: IF Bulls hold bid above 2861.25, THEN initial upside targets 2875 – 2880 P-VAH Zone.
Scenario 2: IF Bears hold offer below 2861.25, THEN initial downside targets 2847 – 2837 CD1 Range Low Violation Zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7522.25 (FULFILLED). Average Range for CD1 is 98.50 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 65%
CD1 Range High =7508.00 CD1 Range Low = 7460.00 CD1 Range Avg = 98.50
Scenario 1: IF Bulls hold bid above 7512.25, THEN initial upside targets 7565 – 7570 zone P-POC Zone.
Scenario 2: IF Bears hold offer below 7512.25, THEN initial downside targets 7440 – 7420 CD1 Statistical Extreme ATR Zone.
Range Projections and Key Levels (NQ) June 2019 (M) 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
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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