In Europe, at midday, London -0.2%. Paris -0.3%. Frankfurt -0.2%.
Futures at 6:20, Dow flat. S&P -0.1%. Nasdaq -0.2%. Crude +1.3% to $69.57. Gold +0.6% to $1230.60. Bitcoin -0.8% to $8144.
Ten-year Treasury Yield +1 bps to 2.97%
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2822.50. Average Range for CD1 is 24.50 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 42%
***Note: Average Decline (2822.50) was fulfilled in prior session…As such, potential for recovery / stabilization increases today.
Market Bias: Med-Term – Bullish
CD1 Range High = 2829.50 CD1 Range Low = 2794.75 CD1 Range Avg = 24.50
Scenario 1: IF price clears and converts 2817.25 to support, THEN recovery rally targets 2822.50 – 2825 zone.
Scenario 2: IF price holds offer below 2817.25, THEN odds favor a retest of 2806.50 low for surety. Failure to hold opens door to deeper decline measuring 2800 – 2795 zone.
Range Projections and Key Levels (ES) September (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7384.00. Average Range for CD1 is 85.00 handles. Odds of decline > 20 handles = 72% Odds of decline > 25 = 64%
***Note: Average Decline (7384.00) was fulfilled in prior session…As such, potential for recovery / stabilization increases today.
Market Bias: Med-Term – Bullish
CD1 Range High = 7336.00 CD1 Range Low = 7214.75 CD1 Range Avg = 85.00
Scenario 1: IF price clears and converts 7300 to support, THEN recovery rally targets 7320 – 7336 zone.
Scenario 2: IF price holds offer below 7300, THEN odds favor a retest of 7251.00 low for surety. Failure to hold opens door to deeper decline measuring 7215 – 7290 zone.
Range Projections and Key Levels (NQ) September (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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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