Today’s jobs report is one of the more important ones for investors, as it will not only address recession fears but will signal upcoming policy cues for the Fed. Economists have forecast non-farm payrolls to bounce back by 175,000 in March, after a shockingly low 20,000 last month, meaning February was just a sputter during a long stretch of job gains. Hopes for a solid number were boosted by jobless claims data, which fell to a 49-year low last week. Also being eyed are average hourly wages, which likely rose 0.3%, and an unemployment rate that’s expected to hold steady at 3.8%.
In Asia, Japan +0.4%. Hong Kong -0.2%. China +0.9%. India +0.5%.
In Europe, at midday, London +0.2%. Paris +0.2%. Frankfurt -0.1%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude flat at $62.09. Gold steady at $1294.10. Bitcoin -0.6% to $4959.
Ten-year Treasury Yield +2 bps to 2.53
Source: Seeking Alpha
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2858.50. Average Range for CD1 is 25.00 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 43%
CD1 Range High = 2905.00 CD1 Range Low = 2865.00 CD1 Range Avg = 25.00
Scenario 1: IF Bulls hold bid above 2883.00, THEN initial upside targets 2893.25 – 2895 CD1 Penetration Zone.
Scenario 2: IF Bears hold offer below 2883.00, THEN initial downside targets 2876 – 2874 3 Day Central Pivot 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 7514.00. Average Range for CD1 is 79.00 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 65%
CD1 Range High =7611.00 CD1 Range Low = 7531.00 CD1 Range Avg = 79.00
Scenario 1: IF Bulls hold bid above 7563.00, THEN initial upside targets 7611.00 – 7618 CD1 Penetration Range Zone.
Scenario 2: IF Bears hold offer below 7563.00, THEN initial downside targets 731.25 – 7514.00 CD1 Average Decline Range 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
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