In Europe, at midday, London -0.50%. Paris -0.92%. Frankfurt -1.44%.
Futures at 6:20, Dow -0.16%. S&P -0.10%. Nasdaq -0.02%. Crude -0.57%to $61.30. Gold -0.49% to $1,311.50.
Ten-year Treasury Yield -3 bps to 2.842%
8:30 Personal Income and Outlays
8:30 Initial Jobless Claims
9:45 PMI Manufacturing Index
9:45 Bloomberg Consumer Comfort Index
10:00 Yellen delivers semi-annual monetary policy testimony
10:00 ISM Manufacturing Index
10:00 Construction Spending
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
S&P 500 (ES)
Today is Cycle Day 3 (CD3)…Early rally attempt failed at 2761 resistance, reversed and sold-off fulfilling downside low-of-day range objective 2712 as outlined in DTS Briefing 2.28.18
In overnight trade price has continued trading lower to CD3 Violation Level (2700.80).
Scenario 1: IF price clears and converts PC (2718.75), THEN initial upside objective targets 2730 – 32 zone, followed by CD1 Low (2742.00).
Scenario 2: IF price violates PL (2712.00), THEN initial downside targets 2700 CD3 Violation Level, followed by 2690 – 88 range low zone.
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3),,,In overnight trade price has extended lower fulfilling 6832.65 CD3 Violation Level.
Scenario 1: IF price clears and converts PC (6879.75), THEN initial objective is to recover CD1 Low (6904.00).
Scenario 2: IF price continues to trade below 6832, THEN downside expansion targets 6795 handle.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6937.00; LOD ATR Range Projection: 6784.50; Cycle Day 1 Low: 6904.00; 3 Day Central Pivot: 6937.25; 3 Day Cycle Target: 6963.19; 10 Day Average True Range: 113.96; VIX: 20.83
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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