In Europe, at midday, London -0.8%. Paris -0.2%. Frankfurt +0.1%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq +0.1%. Crude -1.6% to $69.87. Gold +0.2% to $1243.40. Bitcoin +2.8% to $6527.
Ten-year Treasury Yield flat to 2.83%
8:30 Empire State Mfg Survey
8:30 Retail Sales
10:00 Business Inventories
S&P 500
Today is Cycle Day 3 (CD3)…Having previously fulfilled 3 Day Cycle price targets, continuation above last week’s high will be required to prove further bullish strength. Overnight trade is subdued as price wiggle-waggles (technical-term) around 2804.25 settlement.
Market Bias: Short-term: Bullish
CD3 Range High = 2823.50 CD3 Range Low = 2783.50 CD3 Range Avg = 29.50
Scenario 1: IF price clears and converts PH (2807.25), THEN upside targets 2815.75 CD3 Penetration Level.
Scenario 2: IF price violates and converts 2799.50, THEN downside targets 2789.75.
Range Projections and Key Levels (ES) September (U) Contract
HOD ATR Range Projection: 2822.50; LOD ATR Range Projection: 2787.50; Cycle Day 1 Low: 2761.75; 3 Day Central Pivot: 2789.75; 3 Day Cycle Target: 2793.00; 10 Day Average True Range 21.63; VIX: 12.60
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Having previously fulfilled 3 Day Cycle price targets, continuation above last week’s high will be required to prove further bullish strength. Overnight trade is subdued as price wiggle-waggles (technical-term) around 7397.75 settlement.
Market Bias: Short-term: Bullish
CD3 Range High = 7442.00 CD3 Range Low = 7362.00 CD3 Range Avg = 108.50
Scenario 1: IF price clears and converts PH (7414.25), THEN upside targets 7465.00 CD3 Penetration Level.
Scenario 2: IF price violates and converts 7385.00, THEN downside targets 7362.00.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7468.75; LOD ATR Range Projection: 7335.25; Cycle Day 1 Low: 7138.50; 3 Day Central Pivot: 7327.50; 3 Day Cycle Target: 7294.75; 10 Day Average True Range: 78.47; VIX: 12.60
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!
Good Trading…David
“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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CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN