In Europe, at midday, London +0.3%. Paris +0.3%. Frankfurt +0.5%.
Futures at 6:20, Dow +1.2%. S&P +1.4%. Nasdaq +1.7%. Crude -0.4% to $65.61. Gold -0.1% to $1348.30. Bitcoin -1.7% to $8306.
Ten-year Treasury Yield +1 bps to 2.84%
8:30 Chicago Fed National Activity Index
10:30 Dallas Fed Manufacturing Survey
12:30 PM Fed’s Dudley Speech
1:00 PM Results of $30B, 2-Year Note Auction
4:30 PM Fed’s Mester: Monetary Policy and Economic Outlook
Today is Cycle Day 2 (CD2)…Price is rallying from deep CD1 Low (2586.00) fulfilling initial projected range target 2629.50 during overnight session.
Scenario 1: Bulls regained ball-control overnight recovering back to 2636 ATR (10) range projection. Conversion of this level to upper support would suggest further gains targeting 2651 – 2661 zone.
Scenario 2: Bears are on the defensive below 2651 handle and need to regain control below 2612.
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is rallying from deep CD1 Low (6519.00) fulfilling initial projected range target 6665.00 during overnight session.
Scenario 1: Bulls regained ball-control overnight recovering back to 6657.75 ATR (10) range projection. Conversion of this level to upper support would suggest further gains targeting 6696 – 6730 zone.
Scenario 2: Bears are on the defensive below 6657.75 handle and need to regain control below 6575.00
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6657.75; LOD ATR Range Projection: 6539.75; Cycle Day 1 Low: 6519.00; 3 Day Central Pivot: 6751.25; 3 Day Cycle Target: 6696.75; 10 Day Average True Range: 132.75; VIX: 22.23
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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
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CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN