S&P 500
Today is Cycle Day 2 (CD2)…Following a CD1 normal decline in prior session, price is currently trading off it’s low in overnight trade still within downswing channel. Price will need to climb back above 2840 handle to stem further weakness.
CD2 Range High = 2844.75 CD2 Range Low = 2811.50 CD2 Range Avg = 24.50
Scenario 1: IF price holds bid above 2826, THEN upside target 2835 – 2840 zone.
Scenario 2: IF price violates and holds offer below 2826, THEN downside targets 2816 – 2811 zone.
Range Projections and Key Levels (ES) September (U) Contract
HOD ATR Range Projection: 2839.50; LOD ATR Range Projection: 2816.00; Cycle Day 1 Low: 2826.00; 3 Day Central Pivot: 2850.25; 3 Day Cycle Target: 2856.00; 10 Day Average True Range 19.00; VIX: 14.27
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Following a CD1 normal decline in prior session, price is currently trading off it’s low in overnight trade still within downswing channel. Price will need to climb back above 7420 handle to stem further weakness.
CD2 Range High = 7468.75 CD2 Range Low = 7337.00 CD2 Range Avg = 90.50
Scenario 1: IF price holds bid above 7390.75, THEN upside target 7420 – 7440 zone.
Scenario 2: IF price violates and holds offer below 7390.75, THEN downside targets 7353 – 7335 zone.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7452.50; LOD ATR Range Projection: 7353.50; Cycle Day 1 Low: 7390.75; 3 Day Central Pivot: 7459.00; 3 Day Cycle Target: 7453.75; 10 Day Average True Range: 74.00; VIX: 14.27
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