In Europe, at midday, London flat. Paris -0.1%. Frankfurt flat.
Futures at 6:20, Dow flat. S&P -0.1%. Nasdaq +0.1%. Crude -0.5% to $56.49. Gold -0.5% to $1273. Bitcoin -0.2% to $6505.
Ten-year Treasury Yield flat at 2.39%
5:00 Janet Yellen speech
6:00 NFIB Small Business Optimism Index
8:15 Fed’s Bullard: U.S. Monetary and Economic Policy
8:30 Producer Price Index
8:55 Redbook Chain Store Sales
S&P 500 (ES)
Today is Cycle Day 3 (CD3)…Price successfully tested CD1 Low (2571.50) at which time reversed and rallied to 2585.50 outlined as “key resistance” in prior DTS Briefing 11.13.17. Bulls still must convert 2585 to upper support, otherwise longs may become anxious sellers.
Nasdaq 100 (NQ)
Naz successfully tested CD1 Low (6283.75) at which time rallied to 6325.00 outlined as “key resistance” in DTS Briefing 11.10.17. Bulls must convert 6325 to upper support, otherwise aggressive sellers may materialize.
Range Projections and Key Levels (ES)
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: December 2017 (ESZ) 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: IF price clears and converts ONH (2582.25), THEN initial upside objective targets 2585.50, followed by 2588 – 90 zone.
Scenario 2: Failure to convert 2582.25 to support opens door for decline targeting CD1 Low (2571.50)..Violation / Conversion targets 2560 handle.
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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