In Europe, at midday, London +0.6%. Paris +0.8%. Frankfurt +0.6%.
Futures at 6:20, Dow +0.3%. S&P +0.2%. Nasdaq +0.2%. Crude +0.5% to $46.20. Gold -0.1% to $1312.20.
Ten-year Treasury Yield flat at 2.14%
7:30 Challenger Job-Cut Report
8:30 Initial Jobless Claims
8:30 Personal Income and Outlays
9:45 Chicago PMI
9:45 Bloomberg Consumer Comfort Index
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Prior DTS Briefing Report 8.30.17 stated: “Scenario 1: Bulls have the current cycle rally in-place, so they are expected to continue with a buy response as price nears the 2442 3 Day Central Pivot. Additional upside price targets measure 2459 – 2464 zone.”
Low of prior session was 2442.75 as price hit 2464 high zone in overnight trade. Perfect Hit!
Today is Cycle Day 1 (CD1)…Normal is for some magnitude decline with average targeting 2443.25. Current momentum favors bulls with possibility of shallow pullbacks within current up swing. Volumes are expected to begin to thin as traders depart early for long Labor Day Holiday. Non-Farm Payrolls Report tomorrow morning is last key economic metric for this week.
STAY NIMBLE and ALWAYS USE PROTECTIVE STOPS.
Range Projections and Key Levels
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: September 2017 (U) Contract
*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.
Scenario 1: IF price clears and converts PH (2459.75), THEN upside targets 2465 – 2469 Penetration Zone.
Scenario 2: IF price violates and converts 2453 to lower resistance, THEN lower target measures 2443 average CD1 decline.
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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