In Europe, at midday, London +0.3%. Paris -0.2%. Frankfurt +0.6%.
Futures at 6:20, Dow +0.5%. S&P +0.5%. Nasdaq +0.4%. Crude +0.2% to $66.88. Gold +0.2% to $1301.40. Bitcoin +0.5% to $7496.
Ten-year Treasury Yield +11 bps to 2.88%
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 GDP Q1
8:30 International trade in goods
8:30 Corporate profits
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
8:55 Redbook Chain Store Sales
2:00 PM Fed’s Beige Book
S&P 500 (ES)
Today is Cycle Day 3 (CD3)…Price is staging a recovery rally in overnight trade following steep sell down in prior session. Average Range target zone measures 2707 – 2710.
Average Range for CD3 = 22.50
Scenario 1: IF price holds above 2693 handle, THEN recovery rally measures 2707 – 2710 zone.
Scenario 2: IF price violates and convert 2693 handle to lower resistance, THEN downside measures 2685 – 2680 zone.
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is staging a recovery rally in overnight trade following steep sell down in prior session. Average Range target zone measures 6970 – 6994.
Average Range for CD3 = 51.00
Scenario 1: IF price holds above 6948 handle, THEN recovery rally measures 6970 – 6994 zone.
Scenario 2: IF price violates and convert 6948 handle to lower resistance, THEN downside measures 6902 – 6892 zone.
Range Projections and Key Levels (NQ)
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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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