It looks like there is another session of gains in store for Wall Street, with DJIA futures up by 120 points and the S&P 500 and Nasdaq ahead by over 0.5%.
In Asia, Japan +0.3%. Hong Kong +0.8%. China +2.6%. India +0.5%.
In Europe, at midday, London +0.5%. Paris +0.8%. Frankfurt +1.3%.
Futures at 6:20, Dow +0.5%. S&P +0.5%. Nasdaq +0.7%. Crude +0.4% to $53.49. Gold -0.2% to $1326.20. Bitcoin +2.8% to $7936.
Ten-year Treasury Yield +3 bps to 2.17%
Source: Seeking Alpha
Today is Cycle Day 2 (CD2)…Having regained control Bulls continue to press price higher holding 2886 “key support”. Further expansion during this Cycle targets 2914 handle. Break below 2880 handle would jeopardize the current bullish structure.
CD2 Range High = 2910.00 CD2 Range Low = 2880.00 CD2 Range Avg = 30.00
Scenario 1: IF Bulls hold bid above 2896, THEN initial upside potential targets 2905 – 2910 zone.
Scenario 2: IF Bears hold offer below 2896, THEN initial downside objective targets 2890 – 2885 zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price has fulfilled its 3 Day Cycle Target as bulls have firmly regained control. Further upside expansion of this rally measures 7600 – 7612 zone.
CD2 Range High = 7563.00 CD2 Range Low = 7514.00 CD2 Range Avg = 108.00
Scenario 1: IF Bulls hold bid above 7545, THEN initial upside potential targets 7563 – 7578 zone.
Scenario 2: IF Bears hold offer below 7545, THEN initial downside objective targets 7519 – 7514 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.”
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