In Asia, Japan +0.3%. Hong Kong +0.4%. China -0.3%. India +0.4%.
In Europe, at midday, London -0.6%. Paris +0.1%. Frankfurt +0.4%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.3%. Crude +0.4% to $57.39. Gold -0.8%to $1337.60. Bitcoin -1% to $3886.
Ten-year Treasury Yield +1 bps to 2.67%
(Source: Seeking Alpha)
7:50Fed’s Bostic: Economic Outlook and Monetary Policy
8:30Initial Jobless Claims
8:30Philly Fed Business Outlook
9:45PMI Composite Flash
10:00Existing Home Sales
10:30EIA Natural Gas Inventory
11:00EIA Petroleum Inventories
4:30 PMMoney Supply
4:30 PMFed Balance Sheet
Today is Cycle Day 3 (CD3)…Price has already fulfilled 3 Day Cycle Target Objectives (2793.75) and is now trading off its ONH (2798) back into prior session’s range. Bulls still have an edge, but the current rally is somewhat “long in the tooth” and price could retreat if buyers step aside.
CD3 Range High = 2803.50 CD3 Range Low = 2774.50 CD3 Range Avg = 23.50
Scenario 1: IF price holds bid above 2790.75, THEN initial upside target measures 2796 – 2799.50 CD3 Penetration Level.
Scenario 2: IF price holds offer below 2790.75, THEN initial downside target measures 2782 – 2779 3 Day Central Pivot Zone.
Range Projections and Key Levels (ES) March (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 …Price has already fulfilled 3 Day Cycle Target Objectives (7012.50) and is now trading off its ONH (7113.25) back into prior session’s range. Bulls still have an edge, but the current rally is somewhat “long in the tooth” and price could retreat if buyers step aside.
CD3 Range High = 7112.50 CD3 Range Low = 7057.50 CD3 Range Avg = 56.00
Scenario 1: IF price holds bid above 7090, THEN initial upside potential targets 7102.50 – 7112.50 CD3 Range Penetration Zone.
Scenario 2: IF price holds offer below 7090, THEN initial downside targets 7071.25 – 7067.75 3 Day Central Pivot Zone.
Range Projections and Key Levels (NQ) March (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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