In Europe, at midday, London flat. Paris +0.4%. Frankfurt +0.3%.
Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.3%. Crude -1% to $69.08. Gold -0.1% to $1226.50. Bitcoin flat at $6513.
Ten-year Treasury Yield +3 bps to 3.21%
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
9:00 Fed’s Bullard: U.S. Monetary and Economic Policy
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
00:15 PM Randal Quarles: Economic Outlook
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Today is Cycle Day 2 (CD2)…Prior Session was a normal CD1 as price fulfilled average decline before reversing higher, erasing the morning decline. Price settled fairly neutral and currently lightly trading pre-RTH. Current playground range 2820 – 2780.
CD2 Range High = 2826.50 CD2 Range Low = 2788.50 CD2 Range Avg = 26.50
Scenario 1: IF price holds bid above 2808, THEN upside target 2816 – 2820 zone.
Scenario 2: IF price holds offer below 2808, THEN downside targets 2790 – 2780 zone.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Prior Session was a normal CD1 as price fulfilled average decline before reversing higher, erasing the morning decline. Price settled fairly neutral and currently lightly trading pre-RTH. Current playground range 7320 – 7220. (100 handles)
CD2 Range High = 7318.50 CD2 Range Low = 7200 CD2 Range Avg = 108.50
Scenario 1: IF price holds bid above 7300, THEN upside target 7315 – 7320 zone.
Scenario 2: IF price holds offer below 7300, THEN downside targets 7230 – 7200 zone.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 7340.50; LOD ATR Range Projection: 7144.50; Cycle Day 1 Low: 7221.50; 3 Day Central Pivot: 7219.50; 3 Day Cycle Target: 7339.50; 10 Day Average True Range: 165.00; VIX: 18.00
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