In Europe, at midday, London +0.07%. Paris +0.56%. Frankfurt +0.23%.
Futures at 6:20, Dow -0.06%. S&P -0.08%. Nasdaq -0.11%. Crude -0.55%to $50.41. Gold -1.26% to $1,299.80.
Ten-year Treasury Yield -7bps to 2.269%
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
9:00 FHFA House Price Index
9:45 Bloomberg Consumer Comfort Index
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Today is Cycle Day 1 (CD1)…Price failed to expand higher and subsequently pushed lower testing 2494 key support following Fed release before rebounding settling neutral.
Average decline on CD1 measure 2491.25, which is within key support zone (2492 – 94). Violation of this zone opens door to deeper downside targeting 2490…2484.
STAY NIMBLE and ALWAYS USE PROTECTIVE STOPS.
Range Projections and Key Levels
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: December 2017 (Z) Contract
*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.
Scenario 1: Bulls must convert 2406 to upper support to increase odds of expansion higher, targeting 2512…2517.
Scenario 2: Bears must convert 2500 to lower resistance at minimum in order to push to retest 2494 “fed-low”.
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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