Worries over the Middle East appeared to put slight pressure on U.S. stock index futures overnight, but stimulus talk from Mario Draghi has turned markets around. DJIA futures are now ahead by 100 points, while the S&P 500 is up 0.5% and the Nasdaq is 0.8% higher. More easy monetary policies from the world’s biggest central banks may be in store as the Fed begins a key two-day meeting that many expect will clear the way for a cut in interest rates.
In Asia, Japan -0.7%. Hong Kong +1%. China +0.1%. India +0.2%.
In Europe, at midday, London +0.8%. Paris +1.5%. Frankfurt +1.2%.
Futures at 6:20, Dow +0.4%. S&P +0.4%. Nasdaq +0.8%. Crude -0.2% to $51.85. Gold +0.5% to $1349.70. Bitcoin -0.6% to $9220.
Ten-year Treasury Yield -3 bps to 2.05%
Source: Seeking Alpha
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2870.25. Average Range for CD1 is 32.00 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 43%
CD1 Range High = 2913.00 CD1 Range Low = 2876.00 CD1 Range Avg = 32.00
Scenario 1: IF Bulls hold bid above 2898, THEN initial upside targets 2905 – 2910 zone.
Scenario 2: IF Bears hold offer below 2898, THEN initial downside targets 2888 – 2884 zone.
Range Projections and Key Levels (ES) September 2019 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7473.00. Average Range for CD1 is 112.00 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 66%
CD1 Range High =7598.00 CD1 Range Low = 7557.00 CD1 Range Avg = 112.00
Scenario 1: IF Bulls hold bid above 7565, THEN initial upside targets 7610 – 7614 3 Day Cycle Penetration Target Zone. (FULFILLED)
Scenario 2: IF Bears hold offer below 7565, THEN initial downside targets 7533 – 7520 3 Day Central Pivot 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.”
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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