In Europe, at midday, London -0.6%. Paris -1.5%. Frankfurt -1%.
Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.1%. Crude -3.6% to $46.43. Gold +0.2% to $1258.90. Bitcoin +6% to $4052.
Ten-year Treasury Yield flat at 2.77%
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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S&P 500
Today is Cycle Day 2 (CD2)…ES is higher in overnight trade and has reached initial 3 Day Rally Target of 2617. Bulls have further work converting this level to upper support and IF successful, THEN additional upside targets measure 2524 – 2528 zone.
CD2 Range High = 2528.00 CD2 Range Low = 2494.00 CD2 Range Avg = 53.00
Scenario 1: IF price holds bid above 2500, THEN initial upside targets 2517, followed by 2524 – 2528 zone.
Scenario 2: IF price holds offer below 2500, THEN downside targets retest of CD1 Low (2489.50).
Range Projections and Key Levels (ES) March 19 (H) Contract
HOD ATR Range Projection: 2540.00; LOD ATR Range Projection: 2454.00; Cycle Day 1 Low: 2489.50; 3 Day Central Pivot: 2548.00; 3 Day Cycle Target: 2617.00; 10 Day Average True Range 64.00; VIX: 25.00
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…NQ is higher in overnight trade and has reached initial 3 Day Rally Target of 6366.75. Bulls have further work converting this level to upper support and IF successful, THEN additional upside targets measure 6420 – 6458 zone.
CD2 Range High = 6463.00 CD2 Range Low = 6215.50 CD2 Range Avg = 175.00
Scenario 1: IF price holds bid above 6350, THEN initial upside targets 6384.25, followed by 6420 – 6458 zone.
Scenario 2: IF price holds offer below 6350, THEN downside targets retest of 6320 – 6300 zone.
Range Projections and Key Levels (NQ) March 19 (H) Contract
HOD ATR Range Projection: 6480.50; LOD ATR Range Projection: 6197.50; Cycle Day 1 Low: 6301.25; 3 Day Central Pivot: 6481.00; 3 Day Cycle Target: 6366.75; 10 Day Average True Range: 193.00; VIX: 25.00
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!
Good Trading…David
“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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CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN