In Asia, Japan -0.3%. Hong Kong -1.9%. China -0.6%. India -0.5%.
In Europe, at midday, London -0.6%. Paris -0.6%. Frankfurt -0.4%.
Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.4%. Crude -2.6% to $51.91. Gold +0.6% to $1338.80. Bitcoin +2.2% to $7986.
Ten-year Treasury Yield -2 bps to 2.12%
(Source: Seeking Alpha)
8:30 Consumer Price Index
10:00 Atlanta Fed’s Business Inflation Expectations
10:30 EIA Petroleum Inventories
1:00 PM Results of $24B, 10-Year Note Auction
2:00 PM Treasury Budget
Today is Cycle Day 3 …Cycle Objectives have been fulfilled with Positive 3 Day Rally Statistic. Key Decision Point remains 2880 handle as Bulls are expected to defend this weekly Profile Pivot. With cycle targets reached, the next decline can begin at any time.
CD3 Range High = 2899.00 CD3 Range Low = 2867.00 CD3 Range Avg = 35.50
Scenario 1: IF Bulls hold bid above 2880, THEN initial upside targets 2888 – 2890 zone.
Scenario 2: IF Bears hold offer below 2880, THEN initial downside targets 2870 – 2865 zone.
Range Projections and Key Levels (ES) June (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3…Positive 3 Day Rally is in-place and as such, the next decline can begin at any time. Price is currently below PL (7492.75) trading within 3 Day Central Pivot Zone. Bulls need to recover back above prior low and previous settlement.
CD3 Range High = 7530.00 CD3 Range Low = 7473.50 CD3 Range Avg = 111.00
Scenario 1: IF Bulls hold bid above 7493, THEN initial upside potential targets 7508 – 7518 zone.
Scenario 2: IF Bears hold offer below 7493, THEN initial downside targets 7463 – 7456 zone.
Range Projections and Key Levels (NQ) June (M) Contract
HOD ATR Range Projection: 7601.00; LOD ATR Range Projection: 7402.50; Cycle Day 1 Low: 7431.25; 3 Day Central Pivot: 7475.00; 3 Day Cycle Target: 7554.50; 10 Day Average True Range: 128.64; VIX: 16.32
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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