World shares are on the rise today following a vote of confidence from the Fed on Wednesday that the U.S. economy was on track. The Dow and S&P surged yesterday to their strongest percentage gains of the year on the news, following Janet Yellen’s comments that an interest rate increase was unlikely for at least the next two FOMC meetings. Whether hikes come sooner, faster, or on that date, said Yellen, depends on the incoming data.
Mrs Claus (Yellen) gave the Markets an early Xmas present…Overnight trade has S&P e-mini’s up 24 handles, exceeding most of today’s projected targets except for TargetMaster Range Breakout Level 2038.25.
Today is Cycle Day 3 (CD3)…Cycle Targets have been reached or exceeded…so today will have an abbreviated report…
Scenario 1: Upside momentum is currently intact, which could propel price to Breakout Target 2038.25…Should price clear and convert this level, further upside potential is to 2052.25.
Scenario 2: Pullback levels to be mindful of should price reverse from upper levels are 2018…2011 (PDH)..1998.00 – 1995 zone…1989.50 – 1987.50 3DCPZ. TargetMaster Breakdown Level 1977.75.
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 of 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!
I am at peace with uncertainty. I know there is no such thing as a sure thing. I have no particular need to be right. I understand that being perfect has no place in trading. I am flexible. I am willing to change my mind. I am alert to scenario changes. I accept the information that tells me I am on the right track or on the wrong track.