In Asia, Japan +0.7%. Hong Kong -0.2%. China -0.3%. India +0.2%.
In Europe, at midday, London +0.2%. Paris -0.2%. Frankfurt flat.
Futures at 6:20, Dow flat. S&P flat. Nasdaq -0.1%. Crude +0.4% to $58.33. Gold -0.3% to $1545.90. Bitcoin +4.9% to $8507.
Ten-year Treasury Yield flat at 1.84%
Source: Seeking Alpha https://seekingalpha.com
Today is Cycle Day 2 (CD2)…Price has fulfilled this Cycle’s Minimum Target Objective between 3294 – 3297 zone during overnight trade. Buyers will need to maintain solid bid above 3290 to continue the momentum.
Normal for CD2 is for some “back n fill” price action to absorb prior session’s rally from CD1 Low (3265). Key Line-In-Sand is marked at 3280 handle.
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CD2 Range High = 3298.00 CD2 Range Low = 3274.00 CD2 Range Avg = 23.00
Bull Scenario: IF Bulls hold bid above 3290, THEN initial upside potential targets 3294 – 3297 zone.
Bear Scenario: IF Bears hold offer below 3290, THEN initial downside objective targets 3280 – 3274 zone.
Range Projections and Key Levels (ES) March 2020 (H) Contract
Nasdaq 100 (NQ)
CD2 Range High = 9122.50 CD2 Range Low = 9054.50 CD2 Range Avg = 82.00
Bull Scenario: IF Bulls hold bid above 9067, THEN initial upside potential targets 9093 – 9100 zone.
Bear Scenario: IF Bears hold offer below 9067, THEN initial downside objective targets 9052 – 9040 zone.
Range Projections and Key Levels (NQ) March 2020 (H) 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
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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