U.S. stock index futures are pointing to slight losses following Memorial Day weekend, with the DJIA down 27 points as caution prevailed over the fate of trade talks between Washington and Beijing.
In Asia, Japan +0.4%. Hong Kong +0.4%. China +0.6%. India +0.2%.
In Europe, at midday, London -0.1%. Paris -0.3%. Frankfurt -0.3%.
Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.2%. Crude +0.9% to $59.13. Gold flat at $1283.10. Bitcoin -0.4% to $8679.
Ten-year Treasury Yield -4 bps to 2.29%
Source: Seeking Alpha
9:00S&P Corelogic Case-Shiller Home Price Index
9:00FHFA House Price Index
10:30Dallas Fed Manufacturing Survey
11:30Results of $40B, 2-Year Note Auction
1:00 PMResults of $41B, 5-Year Note Auction
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2803.00. Average Range for CD1 is 32.00 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 43%
CD1 Range High = 2845.75 CD1 Range Low = 2816.00 CD1 Range Avg = 32.00
Scenario 1: IF Bulls hold bid above 2832, THEN initial upside targets 2845 – 2850 zone.
Scenario 2: IF Bears hold offer below 2832, THEN initial downside targets 2815 – 2810 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 7223.00. Average Range for CD1 is 108.50 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 66%
CD1 Range High =7347.00 CD1 Range Low = 7300.00 CD1 Range Avg = 108.50
Scenario 1: IF Bulls hold bid above 7318, THEN initial upside targets 7338 – 7347 zone.
Scenario 2: IF Bears hold offer below 7318, THEN initial downside targets 7300 – 7293 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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