In Asia, Japan flat. Hong Kong +0.4%. China +0.2%. India -1.3%.
In Europe, at midday, London -0.1%. Paris +0.2%. Frankfurt flat.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.2%. Crude -0.5% to $52.24. Gold -0.5% to $1337.60. Bitcoin -1.7% to $9166.
Ten-year Treasury Yield +2 bps to 2.11%
(Source: Seeking Alpha)
Today is Cycle Day 3 …Cycle Objectives have been fulfilled with Positive 3 Day Rally Statistic. Key Decision Point remains 2880 handle as Bulls are expected to defend (2885) this weekly Profile Value Low. With cycle targets reached, the next decline can begin at any time.
CD3 Range High = 2918.00 CD3 Range Low = 2881.00 CD3 Range Avg = 34.50
Scenario 1: IF Bulls hold bid above 2896, THEN initial upside targets 2905 – 2910 zone.
Scenario 2: IF Bears hold offer below 2896, THEN initial downside targets 2890 – 2888 zone.
Range Projections and Key Levels (ES) September (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3…Positive 3 Day Rally is in-place and as such, the next decline can begin at any time. Price is currently trading within 3 Day Central Pivot Zone which is marked as initial target/support.
CD3 Range High = 7565.00 CD3 Range Low = 7484.00 CD3 Range Avg = 111.00
Scenario 1: IF Bulls hold bid above 7510, THEN initial upside potential targets 7533 – 7547 zone.
Scenario 2: IF Bears hold offer below 7510, THEN initial downside targets 7490 – 7484 zone.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7602.00; LOD ATR Range Projection: 7446.00; Cycle Day 1 Low: 7446.25; 3 Day Central Pivot: 7515.00; 3 Day Cycle Target: 7515.00; 10 Day Average True Range: 95.27; VIX: 159.59
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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