In Europe, at midday, London flat. Paris +0.8%. Frankfurt +0.4%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude +1.2% to $67.30. Gold flat at $1349.80. Bitcoin +2.7% to $8106.
Ten-year Treasury Yield +2 bps to 2.84%
7:00 MBA Mortgage Applications
10:30 EIA Petroleum Inventories
2:00 PM Fed’s Beige Book
3:15 PM Fed’s Dudley: Economic Outlook and Monetary Policy
Today is Cycle Day 3 (CD3)…Price fulfilled upside range objectives in prior session and is currently extending gains in overnight trade. Cycle Range High Projection measures 2726.25.
Scenario 1: IF price converts PH (2713.75), THEN upside targets 2726.25, followed by 2734.75 – 2739.50 3 Day Cycle Target.
Scenario 2: IF price violates 2705.50, THEN downside targets 2696, followed by 2687.50.
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price fulfilled upside range objectives in prior session and is currently extending gains in overnight trade. Cycle Range High Projection measures 6867.
Scenario 1: IF price converts PH (6844.75), THEN upside targets 6858.50 – 6867.00 3 Day Cycle Target.
Scenario 2: IF price violates 6825.50, THEN downside targets 6808 handle.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6952.25; LOD ATR Range Projection: 6722.50; Cycle Day 1 Low: 6639.25; 3 Day Central Pivot: 6710.50; 3 Day Cycle Target: 6858.50; 10 Day Average True Range: 135.77; VIX: 15.00
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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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