In Europe, at midday, London +0.4%. Paris +0.5%. Frankfurt +1%.
Futures at 6:20, Dow +0.4%. S&P +0.3%. Nasdaq +0.5%. Crude -1% to $63.26. Gold +0.6% to $1335.20. Bitcoin +4.4% to $11749.
Ten-year Treasury Yield +2 bps to 2.63%
S&P 500 (ES)
Today is Cycle Day 1 (CD1)…Normal average decline measures 2790.50. Support pivot (2793.00) was successfully tested in overnight trade as price has rallied to 2806. Option Expiry may have some influence on price action today.
Scenario 1: IF price clears and converts PH (2808.00), THEN upside measures 2811 – 2814 zone.
Scenario 2: IF price violates and converts 2793, THEN downside measures 2787 – 2784 zone.
Range Projections and Key Levels (ES)
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline measures 6786.50. Price successfully tested 6798.00 3D Central Pivot and has rallied to new all-time high in overnight trade action. Currently at 6848.50 range high, further upside potential targets 6856.00 3 Day Cycle Target.
Scenario 1: IF price clears and converts PH (6838.00, THEN upside expansion measures 6856 – 60 zone.
Scenario 2: IF price violates and converts PH (6838) back to lower resistance, THEN initial downside measures 6818 handle, followed by 6796.
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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