In Asia, Japan +0.4%. Hong Kong -0.7%. China -1%. India -0.7%.
In Europe, at midday, London -0.6%. Paris -0.4%. Frankfurt -0.8%.
Futures at 6:20, Dow -0.3%. S&P -0.3%. Nasdaq -0.8%. Crude -0.8% to $51.84. Gold +1.1% to $1358.10. Bitcoin +2.4% to $8294.
Ten-year Treasury Yield -3 bps to 2.06%
Source: Seeking Alpha
Today is Cycle Day 2 (CD2)…Following a very “scrappy” or “crappy” prior trade session, depending on your viewpoint, Contract Rollover is in full effect into Sept (U) and out of June (M).
Price has been locked within a 20 handle range between 2880 – 2900 as Bull/Bear “tug-o-war” continues until this range is broken.
Middle East tensions are rising with recent provocative attacks on oil tankers in the Strait of Hormuz, so remain alert with positions and always have Stops firmly in place.
CD2 Range High = 2910.00 CD2 Range Low = 2878.00 CD2 Range Avg = 31.00
Scenario 1: IF Bulls hold bid above 2890, THEN initial upside potential targets 2898 – 2900 zone.
Scenario 2: IF Bears hold offer below 2890, THEN initial downside objective targets 2880 – 2878 zone.
Range Projections and Key Levels (ES) September 2019 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is trading lower pre-RTH fulfilling 7489.75 CD2 Range Low Objective.
CD2 Range High = 7535.00 CD2 Range Low = 7489.75 CD2 Range Avg = 110.50
Scenario 1: IF Bulls hold bid above 7515, THEN initial upside potential targets 7535 – 7540 zone.
Scenario 2: IF Bears hold offer below 7515, THEN initial downside objective targets 7490 – 7480 zone.
Range Projections and Key Levels (NQ) September 2019 (U) 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.”
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