In Europe, at midday, London -0.3%. Paris -0.3%. Frankfurt -0.4%.
Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.5%. Crude flat at $51.61. Gold +0.1% to $1223.90. Bitcoin -5.5% to $3695.
Ten-year Treasury Yield -1 bps to 3.06%
7:45 Richard Clarida Speech
8:55 Redbook Chain Store Sales
9:00 S&P Corelogic Case-Shiller Home Price Index
9:00 FHFA House Price Index
10:00 Consumer Confidence
1:00 PM Results of $40B, 5-Year Note Auction
2:30 PM Fed’s Bostic, George, Evans: “Economy, regulation, financial innovation, and the future of payments”
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Today is Cycle Day 3 (CD3)…Price continues to hold 2655 handle Key “Line-In-Sand” during overnight trade. Price also spiked to fulfill CD3 upper STATX Zone target (2684), but was quickly rejected, currently trading near 5-Day POC (2665). Bulls will need to hold key support and build upon recent gains.
CD3 Range High = 2678.25 CD3 Range Low = 2641.00 CD3 Range Avg = 43.50
Scenario 1: IF price holds bid above 2655, THEN upside targets 2687.75 – 2684.00 STATX Zone.
Scenario 2: IF price holds offer below 2655, THEN downside targets 2644.25 – 2641.75 3 Day Central Pivot Zone.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 …Price continues to hold 6595 handle Key “Line-In-Sand” during overnight trade. Price also spiked to fulfill CD3 upper STATX Zone target (6705.25), but was quickly rejected, currently trading near 5-Day POC (6637.50). Bulls will need to hold key support and build upon recent gains.
CD3 Range High = 6676.75 CD3 Range Low = 6545.50 CD3 Range Avg = 166.00
Scenario 1: IF price holds bid above 6613, THEN upside targets 6705.25 – 6724.75 STATX Zone.
Scenario 2: IF price holds offer below 6613, THEN downside targets 6571.50 – 6566.00 3 Day Central Pivot Zone.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 6766.50; LOD ATR Range Projection: 6568.50; Cycle Day 1 Low: 6495.00; 3 Day Central Pivot: 6568.75; 3 Day Cycle Target: 6637.25; 10 Day Average True Range: 144.00; VIX: 19.75
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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