In Asia, Japan -0.8%. Hong Kong -0.4%. China -0.4%. India -0.1%.
In Europe, at midday, London -0.5%. Paris flat. Frankfurt -0.1%.
Futures at 6:20, Dow -0.3%. S&P -0.3%. Nasdaq -0.4%. Crude -0.4% to $56.73. Gold +0.5% to $1327.90. Bitcoin +0.3% to $3819.
Ten-year Treasury Yield -2 bps to 2.67%
Source: Seeking Alpha
8:00Fed’s Clarida: “Promoting Global Growth and Domestic Economic Security”
8:30Initial Jobless Claims
8:50Fed’s Bostic: “Economic and Housing Landscape”
10:30EIA Natural Gas Inventory
11:00Kansas City Fed Mfg Survey
12:15 PMFed’s Harker: Economic Outlook
1:00 PMFed’s Kaplan Speech
3:00 PMFarm Prices
4:30 PMMoney Supply
4:30 PMFed Balance Sheet
Today is Cycle Day 2 (CD2)…Price is testing the low 80’s support zone established in prior session’s decline. Bulls will need to continue absorbing any further selling and convert 2790 – 2794 zone to new upper support.
CD1 Range High = 2805.50 CD1 Range Low = 2771.75 CD1 Range Avg = 24.00
Scenario 1: IF Bulls hold bid above 2790.00, THEN initial upside potential targets 2795 – 2800 zone.
Scenario 2: IF Bears hold offer below 2790.00, THEN initial downside objective targets 2780.00 – 2775 CD1 Low Zone.
Range Projections and Key Levels (ES) March 2019 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price has pulled back approximately 50% of prior session range and within previous Value Zone. Expectation for today would be for price to ‘back n fill’ a bit, with possibility of testing CD1 Low for surety. Bulls will need to convert 7120 to new upper support for further upside potential.
CD1 Range High = 7129.00 CD1 Range Low = 7066.00 CD1 Range Avg = 56.25
Scenario 1: IF Bulls hold bid above 7085.00, THEN initial upside potential targets 7110 – 7120 zone.
Scenario 2: IF Bears hold offer below 7085.00, THEN initial downside objective targets 7066 – 7052.50 CD2 ATR Range Low Zone.
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
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