In Asia, Japan -1.1%. Hong Kong +0.4%. China -1.4%. India +1%.
In Europe, at midday, London -0.8%. Paris -1%. Frankfurt -1.4%.
Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.1%. Crude -0.9% to $61.26. Gold -0.1% to $1313.70. Bitcoin +11.9% to $8483.
Ten-year Treasury Yield flat at 2.83%
Economic Calendar
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
1:00 PM Results of $16B, 30-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
S&P 500 (ES)
Today is Cycle Day 3 (CD3)…Price action continues to work on stabilizing near the 3 Day Central Pivot (2660.00) and previous close (2667.00). Expectation today is for continued elevated wide range volatility within the current ATR Range (2703 – 2620).
Scenario 1: IF price converts PC ( 2667.00) to solid support, THEN upside potential measures 2688..2703..2736.
Scenario 2: IF price fails to hold PC (2667.00) and subsequently violates and converts 2640 handle, THEN downside potential measures 2620…2600..2585.
HOD ATR Range Projection: 2703.54; LOD ATR Range Projection: 2620.96; Cycle Day 1 Low: 2823.50; 3 Day Central Pivot: 2660.75; 3 Day Cycle Target: 2700.00; 10 Day Average True Range 58.29 ; VIX: 28.84
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price rallied in prior session reaching 6717 target outlined prior DTS Briefing 2.7.18 “Scenario 1: IF price clears and converts 6678, THEN upside targets 6695 – 6717 zone.” Initial support is now marked @ 6500 handle.
Scenario 1: IF price converts PC (6545.25) to solid support, THEN upside targets 6640, follows by 6717 – 6748 CD3 Penetration Zone.
Scenario 2: Failure to hold PC (6545.25), THEN downside test of 6500 comes into play…Violation of this level opens door down to 6422 – 6391 CD3 Violation Zone.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6649.50; LOD ATR Range Projection: 6438.00; Cycle Day 1 Low: 6884.75; 3 Day Central Pivot: 6565.00; 3 Day Cycle Target: 6636.00; 10 Day Average True Range: 159.00; VIX: 28.84
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!
Good Trading…David
“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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
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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