In Europe, at midday, London +0.3%. Paris +0.5%. Frankfurt +1%.
Futures at 6:20, Dow +0.5%. S&P +0.4%. Nasdaq +0.4%. Crude -0.7% to $64.84. Gold +0.9% to $1225.70. Bitcoin flat $6321.
Ten-year Treasury Yield flat at 3.16%
7:30 Challenger Job-Cut Report
8:30 Initial Jobless Claims
8:30 Productivity and Costs
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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Today is Cycle Day 3 (CD3)…Price is consolidating its recent rally above 2705 Key Support with an upward bias. Expectation is for some lateral back n fill action with potential to expand higher targeting upwards to 2750 handle.
CD3 Range High = 2741.00 CD3 Range Low = 2704.50 CD3 Range Avg = 35.50
Scenario 1: IF price holds bid above 2705, THEN upside initially targets 2728 – 2730 zone. IF this zone converts to upper support, THEN further upside targets 2740 – 2750 zone.
Scenario 2: IF price holds offer below 2705, THEN downside targets 2691.25 CD3 Range Low Average.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 …Price is consolidating its recent rally above 6950 Key Support with an upward bias. Expectation is for some lateral back n fill action with potential to expand higher targeting upwards to 7060 handle.
CD3 Range High = 7187.50 CD3 Range Low = 6779.00 CD3 Range Avg = 136.00
Scenario 1: IF price holds bid above 6950, THEN upside initially targets 7004 CD3 Range High Average. IF this level converts to upper support, THEN further upside targets 7060 – -7086 zone.
Scenario 2: IF price holds offer below 6950, THEN downside targets 6880 CD3 Range Low Average.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 7187.50; LOD ATR Range Projection: 6779.00; Cycle Day 1 Low: 6951.00; 3 Day Central Pivot: 6829.25; 3 Day Cycle Target: 6948.00; 10 Day Average True Range: 236.50; VIX: 20.50
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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