In Asia, Japan -0.8%. Hong Kong +0.9%. China -0.2%. India -0.2%.
In Europe, at midday, London -0.2%. Paris +0.2%. Frankfurt +0.1%.
Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.2%. Crude -0.6% to $64.14. Gold +0.4% to $1345.90. Bitcoin +2.1% to $10239.
Ten-year Treasury Yield -2 bps to 2.71%
Economic Calendar
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 Employment Cost Index
8:30 Treasury Refunding Quarterly Announcement
9:45 Chicago PMI
10:00 Pending Home Sales
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
S&P 500 (ES)
Today is Cycle Day 3 (CD3)…Bears got their follow-through day as price reached 2825 – 2821 statistical extreme zone outlined in prior DTS Briefing Scenario 2: “…Deep extreme measures 2825 – 2821 zone.”
Price is currently trading above prior close (2823.25), as part of the rally is in-place. Today’s objective for bulls is to recover CD1 Low (2851.50.)
Scenario 1: IF price holds above PC (2823.25), THEN initial upside target measures 2840.00 – 2844.00 zone, followed by 2847.50 – 2851.50 zone.
Scenario 2: IF price violates and converts PC (2823.25), THEN downside targets project 2818.00 – 2815.00, 2812.00.
HOD ATR Range Projection: 2847.44; LOD ATR Range Projection: 2811.81; Cycle Day 1 Low: 2851.50; 3 Day Central Pivot: 2852.75; 3 Day Cycle Target: 2877.19; 10 Day Average True Range: 24.94; VIX: 14.37
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price fulfilled downside statistical objective of 6909.86 in prior session. Bulls objective is to recover CD1 Low (6980.00) to secure Positive 3 Day Rally.
Scenario 1: IF price holds above PC (6940.75), THEN upside projects 6962, followed by 6980.00.
Scenario 2: Violation and conversion of PC (6940.75) opens door to deeper downside projecting 6928 – 6918 zone.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 7013.07; LOD ATR Range Projection: 6899.43; Cycle Day 1 Low: 6980.00; 3 Day Central Pivot: 6985.75; 3 Day Cycle Target: 7037.66; 10 Day Average True Range: 76.32; VIX: 14.37
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!
Good Trading…David
“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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
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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