U.S. stock index futures are wavering between slight gains and losses as the bond market once again sends out warning signals, with the yield curve inverting overnight to levels not seen since 2007 (the premium on two-year Treasury yields over 10-year yields widened to 6.2 basis points, while the 30-year rate hit a fresh low of 1.95%).
In Asia, Japan +0.1%. Hong Kong -0.2%. China -0.3%. India -0.5%.
In Europe, at midday, London +0.4%. Paris -0.5%. Frankfurt -0.6%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq flat. Crude +1.4% to $55.67. Gold +0.1% to $1552.50. Bitcoin +0.1% to $10144.
Ten-year Treasury Yield -2 bps to 1.
Source: Seeking Alpha https://seekingalpha.com/
Economic Calendar: https://www.investing.com/economic-calendar/
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2859 (FULFILLED). Average Range for CD1 is 36.50 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 44%
CD1 Range High = 2882.00 CD1 Range Low = 2854 CD1 Range Avg = 36.50
Scenario 1: IF Bulls hold bid above 2870, THEN initial upside targets 2875 – 2880 zone.
Scenario 2: IF Bears hold offer below 2870, THEN initial downside targets 2860 – 2855 zone.
Range Projections and Key Levels (ES) September 2019 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7506.00. Average Range for CD1 is 127.00 handles. Odds of decline > 20 handles = 75% Odds of decline > 25 = 66%
CD1 Range High =7594 CD1 Range Low = 7543 CD1 Range Avg = 127.00
Scenario 1: IF Bulls hold bid above 7566, THEN initial upside targets 7595 – 7600 zone.
Scenario 2: IF Bears hold offer below 7566, THEN initial downside targets 7550 – 7540 zone.
Range Projections and Key Levels (NQ) September 2019 (U) 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.”
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