U.S. stock index futures wavered overnight, currently down around 0.2%, after a major session for Wall Street yesterday that saw the S&P 500 surge almost 1% to its first record close since April. Iran is as good excuse as any for the slight pullback this morning, with reports suggesting President Trump ordered, and then rescinded, an airstrike on military installations in the Islamic Republic. Oil prices are adding to yesterday’s massive 6% jump as WTI tops $57 a barrel, while gold dips 0.3% after spiking above $1,400 per ounce to prices not seen in nearly six years.
Source: Seeking Alpha https://seekingalpha.com/
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2932.00. Average Range for CD1 is 33.00 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 43%
CD1 Range High = 2972.00 CD1 Range Low = 2936.00 CD1 Range Avg = 33.00
Scenario 1: IF Bulls hold bid above 2956, THEN initial upside targets 2965.00. Conversion of this level opens skylight targeting 2972 – 2976 zone.
Scenario 2: IF Bears hold offer below 2956, THEN initial downside targets 2948 prior Value Area Low. Conversion of this level opens trap door targeting 2936 – 2933 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 7720.00. Average Range for CD1 is 116.00 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 66%
CD1 Range High =7782.00 CD1 Range Low = 7715.00 CD1 Range Avg = 116.00
Scenario 1: IF Bulls hold bid above 7752, THEN initial upside targets 7782 handle.
Scenario 2: IF Bears hold offer below 7752, THEN initial downside targets 7720 handle.
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
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