This week has so far seen a 500-point rise in the DJIA, and futures are tagging on another 80 points to the index. It’s also been a big week for the S&P 500 and Nasdaq, with both pointing to gains of 0.4% at the open.
In Asia, Japan +0.8%. Hong Kong +0.6%. China +1%. India +0.7%.
In Europe, at midday, London +0.6%. Paris +0.5%. Frankfurt +0.3%.
Futures at 6:20, Dow +0.3%. S&P +0.4%. Nasdaq +0.4%. Crude +0.2% to $58.74. Gold +0.6%to $1302.20. Bitcoin +0.6% to $3864.
Ten-year Treasury Yield flat at 2.63%
Source: Seeking Alpha
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2800. Average Range for CD1 is 23.75 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 43%
CD1 Range High = 2836.00 CD1 Range Low = 2803.00 CD1 Range Avg = 23.75
Scenario 1: IF Bulls hold bid above 2825, THEN initial upside targets 2835 – 2837 zone.
Scenario 2: IF Bears hold offer below 2825, THEN initial downside targets 2816 – 2812 zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7246.25 Average Range for CD1 is 55.00 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 65%
CD1 Range High =7324.50 CD1 Range Low = 7259.50 CD1 Range Avg = 55.00
Scenario 1: IF Bulls hold bid above 7318.50, THEN initial upside targets 7324.50 – 7339 zone.
Scenario 2: IF Bears hold offer below 7318.50, THEN initial downside targets 7266.50 – 7259.75 zone.
Range Projections and Key Levels (NQ) June 2019 (M) 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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