In Europe, at midday, London -0.9%. Paris -1.1%. Frankfurt -0.8%.
Futures at 6:20, Dow -0.5%. S&P -0.6%. Nasdaq -0.8%. Crude -1.6% to $59.72. Gold -0.4% to $1219.80. Bitcoin -0.8% to $6376.
Ten-year Treasury Yield -2 bps to 3.21%
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Today is Cycle Day 3 (CD3)…Price are slipping lower in Globex Session testing 2790 support level outlined in prior DTS Briefing 11.8.18. “Scenario 2: IF price holds offer below 2800, THEN downside targets 2795 – 2790 zone.” Bulls will need to defend this level and push higher to convert 2800 to neutralize the current pressure. IF successful, 2806 – 08 zone would be next hurdle.
CD3 Range High = 2812.50 CD3 Range Low = 2788.50 CD3 Range Avg = 37.50
Scenario 1: IF price holds hid above 2790, THEN initial upside targets 2800 roundie. IF cleared and converted, THEN further upside measures 2806 – 2808 zone.
Scenario 2: IF price violates and converts 2790 to lower resistance, THEN downside targets 2783 – 2778.50 zone.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 …Price has slipped below prior low (7132.00) currently testing 7103.75 CD3 Average Violation Level and 7098.25 3 Day Central Pivot. Bulls will need to hold this zone, otherwise further selling pressure may develop.IF successful, THEN main objective is to recover 7132 lost prior low.
CD3 Range High = 7147.50 CD3 Range Low = 7112.25 CD3 Range Avg = 144.00
Scenario 1: IF price holds bid above 7098, THEN upside targets 7125 – 7132 zone.
Scenario 2: IF price holds offer below 7098, THEN downside targets 7083.50, followed by 7055 CD3 Violation Level.
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
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