In Asia, Japan -2.1%. Hong Kong +0.6%. China +0.9%. India +1%.
In Europe, at midday, London +0.2%. Paris +0.4%. Frankfurt +0.8%.
Futures at 6:20, Dow +0.6%. S&P +0.6%. Nasdaq +0.9%. Crude -2.3% to $58.57. Gold -0.4% to $1198.30. Bitcoin % to $..
Ten-year Treasury Yield
8:55 Redbook Chain Store Sales
10:00 Fed’s Reserve Gov. Lael Bralnard: “Artificial Intelligence and the New Financial Landscape”
10:00 Fed’s Kashkari Speech
2:00 PM Treasury Budget
2:20 PM Fed’s Harker Speech
5:00 PM Fed’s Mary Speech
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Today is Cycle Day 2 (CD2)…Price is rallying in overnight trade following a normal Cycle Day 1 (CD1) decline which pushed price down to extreme target levels. Initial price projection off deep lows targets 2749.25 – 2756.75 Cycle Rally.
CD2 Range High = 2754.00 CD2 Range Low = 2727.00 CD2 Range Avg = 35.00
Scenario 1: IF price holds bid above 2733, THEN initial upside targets 2743 – 49 zone. Conversion of this zone to support further measures 2756 – 59 zone.
Scenario 2: IF price holds offer below 2733, THEN initial downside would be test of 2722.25 CD1 Low.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is rallying in overnight trade following a normal Cycle Day 1 (CD1) decline which pushed price down to extreme target levels. Initial price projection off deep lows targets 6882 – 6890.50 Cycle Rally.
CD2 Range High = 6942.00 CD2 Range Low = 6855.50 CD2 Range Avg = 140.50
Scenario 1: IF price holds bid above 6860, THEN upside targets 6890 – 6925 zone.
Scenario 2: IF price holds offer below 6860, THEN downside targets 6825.75 (CD1 Low), followed by 6798 CD2 Violation Level.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 6978.75; LOD ATR Range Projection: 6731.75; Cycle Day 1 Low: 6825.75; 3 Day Central Pivot: 7052.00; 3 Day Cycle Target: 6890.00; 10 Day Average True Range: 177.50; VIX: 19.50
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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