In Europe, at midday, London +0.4%. Paris +0.5%. Frankfurt -0.4%.
Futures at 6:20, Dow +0.2%. S&P +0.3%. Nasdaq +0.3%. Crude +0.1% to $75.31. Gold +0.1% to $1207.70. Bitcoin -0.8% to $6456.
Ten-year Treasury Yield +2 bps to 3.07%
6:30 Fed’s Evans: Economic Outlook
7:00 MBA Mortgage Applications
8:05 Fed’s Barkin: “The Outlook for Tomorrow: Five Numbers to Watch”
8:15 ADP Jobs Report
9:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:30 EIA Petroleum Inventories
12:00 PM Fed’s Harker Speech
1:00 PM Fed’s Reserve Gov. Lael Brainard:”Payment System”
2:15 PM Fed’s Mester speech
4:00 PM Jerome Powell Speech
8:00 PM Fed’s Kaplan speech
Today is Cycle Day 3 (CD3)…Could it be breakout day to new all-time highs? Price has been vacillating and coiling within its current average range in “doji-style” fashion. Upside conversion of 2936 – 2940 zone offers bulls propulsion to achieve new highs. Trade back down into range would place doubt to this scenario. Current key support zone expands between 2919 – 2924 handles. Three-Day Central Pivot Zone has new higher lows which is bullish structure.
CD3 Range High = 2946.50 CD3 Range Low = 2916.00 CD3 Range Avg = 20.50
Scenario 1: IF price holds bid above 2926, THEN initial upside target 2936, followed by 2943 – 2946 zone.
Scenario 2: IF price holds offers below 2926, THEN downside targets 2919 – 2916 zone.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…NAZ continues to find support at or near its 3 Day Central Pivot Zone and above Cycle Day 1 Low (7652.00). Both bullish structural context. Also range-bound, conversion above 7690 ( VAH-5) would support bullish scenario for higher prices. Break below recent lows would keep range scenario intact.
CD3 Range High = 7728.00 CD3 Range Low = 7596.00 CD3 Range Avg = 86.50
Scenario 1: IF price holds bid above 7662, THEN upside targets 7685 – 7694 zone.
Scenario 2: IF price holds offer below 7662, THEN downside targets 7652 – 7642 zone. Break below this zone measures 7626 – 7616 STAT-X Zone.
Range Projections and Key Levels (NQ) December (Z) 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.”
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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