U.S. stock index futures are pointing to gains at the start of the week, up 0.5%, despite the collapse of border security talks as the federal government barreled towards another shutdown.
About 60 companies listed on the S&P 500 are also set to report quarterly figures in what will be the last big week of the Q4 earnings season.
The Shanghai Composite index rose 1.4% overnight as markets in China reopened after a week-long Lunar New Year break. China’s retailer and catering enterprises earned over 1T yuan ($148.3B) during the holiday, defying an economic slump to rise 8.5% from last year. Domestic tourism over the week further generated total revenues of 513.9B yuan, up 8.2% Y/Y, with the number of trips rising 7.6% to 415M.
In Asia, Japan closed. Hong Kong +0.7%. China +1.4%. India -0.4%.
In Europe, at midday, London +0.7%. Paris +0.3%. Frankfurt +0.8%.
Futures at 6:20, Dow +0.4%. S&P +0.4%. Nasdaq +0.5%. Crude -1% to $52.21. Gold -0.6% to $1311.10. Bitcoin -0.4% to $3589.
Ten-year Treasury Yield +1 bps to 2.64%
Source: Seeking Alpha
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2685.50. Average Range for CD1 is 23.75 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 42%
CD1 Range High = 2724.00 CD1 Range Low = 2698.00 CD1 Range Avg = 23.75
Scenario 1: IF price holds bid above 2712, THEN initial upside targets 2718.25 CD1 Penetration Level. Conversion of this level measures 2724 – 2728 CD1 Range High Zone.
Scenario 2: IF price holds offer below 2712, THEN initial downside targets 2706 – 2700 Central Pivot Zone.
Range Projections and Key Levels (ES) March 2019 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 6872.00. Average Range for CD1 is 54.50 handles. Odds of decline > 20 handles = 73% Odds of decline > 25 = 64%
CD1 Range High = 6951.00 CD1 Range Low = 6915.00 CD1 Range Avg = 54.50
Scenario 1: IF price holds bid above 6897.00, THEN initial upside targets 6946.50 – 6963.50 CD1 Cycle Penetration Range Zone.
Scenario 2: IF price holds offer below 6897.00, THEN initial downside targets 6867.00 CD1 Cycle Violation Range Level.
Range Projections and Key Levels (NQ) March 2019 (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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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