In Europe, at midday, London -0.7%. Paris -0.5%. Frankfurt -0.4%.
Futures at 6:20, Dow -0.3%. S&P -0.3%. Nasdaq -0.4%. Crude -0.9% to $51.83. Gold flat at $1293.80. Bitcoin -0.6% to $3591.
Ten-year Treasury Yield +1 bps to 2.71%
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
8:30 Housing Starts
10:30 EIA Natural Gas Inventory
10:45 Randal Quarles: “Insurance Regulation and Supervision”
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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S&P 500
Today is Cycle Day 2 (CD2)…Price fulfilled upside target zone (2623 – 2626) in prior session, but bulls were not table to hold firm bid into closing rotation. During overnight trade price continues to slip lower into key support marked within 3 Day Central Pivot Zone (2599.50 – 2577.00). Failure to hold bid at this level opens trap door to deeper downside pressure.
CD2 Range High = 2620.25 CD2 Range Low = 2592.25 CD2 Range Avg = 59.00
Scenario 1: IF price holds bid above 2598, THEN initial upside targets 2608, followed by 2612 – 2614 zone.
Scenario 2: IF price holds offer below 2598, THEN initial downside targets 2592, followed by 2589 – 2584 zone.
Range Projections and Key Levels (ES) March 19 (H) Contract
HOD ATR Range Projection: 2632.50; LOD ATR Range Projection: 2580.00; Cycle Day 1 Low: 2602.50; 3 Day Central Pivot: 2598.25; 3 Day Cycle Target: 2630.00; 10 Day Average True Range 36.00; VIX: 19.42
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price fulfilled upside target zone (6710 – 6725.25) in prior session, but bulls were not table to hold firm bid into closing rotation. During overnight trade price continues to slip lower into key support marked within 3 Day Central Pivot Zone (6629.75 – 6626.25). Failure to hold bid at this level opens trap door to deeper downside pressure.
CD2 Range High = 6668.00 CD2 Range Low = 6619.75 CD2 Range Avg = 182.00
Scenario 1: IF price holds bid above 6628, THEN initial upside targets 6645.00, followed by 6654.50 – 6664.25 zone.
Scenario 2: IF price holds offer below 6628, THEN initial downside targets 6619.75, followed by 6606.50 – 6593.00 zone.
Range Projections and Key Levels (ES) March 19 (H) Contract
HOD ATR Range Projection: 6732.50; LOD ATR Range Projection: 6555.50; Cycle Day 1 Low: 6664.25; 3 Day Central Pivot: 6628.00; 3 Day Cycle Target: 6730.00; 10 Day Average True Range: 120.00; VIX: 19.42
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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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