U.S. stock index futures are modestly higher after booking their second-largest two-day gain of the year on hopes of a near-term rate move from the Federal Reserve. Contracts tied to the DJIA are indicating a 78-point opening bell advance, while those linked to the S&P 500 and Nasdaq suggest a 0.4% bump.
In Asia, Japan flat. Hong Kong +0.3%. China -1.2%. India -1.4%.
In Europe, at midday, London +0.7%. Paris +0.7%. Frankfurt +0.8%.
Futures at 6:20, Dow +0.3%. S&P +0.4%. Nasdaq +0.4%. Crude +0.2% to $51.79. Gold +0.6% to $1341.10. Bitcoin -1.1% to $7798.
Ten-year Treasury Yield -2 bps to 2.1%
Source: Seeking Alpha
7:30Challenger Job-Cut Report
8:30Initial Jobless Claims
8:30Productivity and Costs
8:40Fed’s Kaplan Speech
10:00Quarterly Services Report
10:30EIA Natural Gas Inventory
1:00 PMFed’s Williams Speech
4:30 PMMoney Supply
4:30 PMFed Balance Sheet
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 2840 – 2843, with ATR (10) Range High 2848 handle.
CD2 Range High = 2843.00 CD2 Range Low = 2808.00 CD2 Range Avg = 30.00
Scenario 1: IF Bulls hold bid above 2728, THEN initial upside potential targets 2835 – 2838.50 zone.
Scenario 2: IF Bears hold offer below 2728, THEN initial downside objective targets 2814 – 2808 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 7261.75 – 7267.50.
CD2 Range High = 7288.00 CD2 Range Low = 7157.00 CD2 Range Avg = 107.25
Scenario 1: IF Bulls hold bid above 7230, THEN initial upside potential targets 7261.75 – 7264.25
Scenario 2: IF Bears hold offer below 7230, THEN initial downside objective targets 7212 – 7208 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
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