In Europe, at midday, London +0.5%. Paris +0.6%. Frankfurt +0.1%.
Futures at 6:20, Dow -0.1%. S&P flat. Nasdaq -0.1%. Crude +0.4% to $68.59. Gold -0.4% to $1343.30. Bitcoin +3% to $8518.
Ten-year Treasury Yield flat at 2.92%
Today is Cycle Day 2 (CD2)…Today is OPEX as price continues to exhibit weakness holding just above CD1 Low (2692.75). Bulls will need to hold and recover and convert 2698 handle.
Scenario 1: IF price clears and convert 2698, THEN upside recovery targets 2702 3 Day Central Pivot, followed by 2705.50 CD2 range projection.
Scenario 2: IF price violates and converts 2692.75, THEN downside targets 2674.50 CD2 range projection.
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Today is OPEX as price continues to exhibit weakness violating CD1 Low (6755.25) and extending to 6738.75 CD2 range projection target. Bulls will need to recover 6755.25 and convert 6777.00 to support in order to stabilize current selling pressure.
Scenario 1: IF price clears and convert 6777.00, THEN upside recovery targets 6808.50 3 Day Central Pivot.
Scenario 2: IF price violates and converts 6755.25, THEN downside targets 6739.75 CD2 range projection.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6850.75; LOD ATR Range Projection: 6673.25; Cycle Day 1 Low: 6755.25; 3 Day Central Pivot: 6808.50; 3 Day Cycle Target: 6816.25; 10 Day Average True Range: 117.00; VIX: 16.00
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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