In Europe, at midday, London +0.6%. Paris +1.1%. Frankfurt +0.8%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.3%. Crude +0.3% to $47.69. Gold -0.3% to $1275.80.
Ten-year Treasury Yield +1 bps to 2.28%
Cycle Day 1 Low (2460.00) was made early in session, at which time price bounced to noon-time high. Test of CD1 Low mid-afternoon (2 pm) secured the low.
Today is Cycle Day 2 (CD2)…Bulls remain squarely in control above 2460 and with a move above 2470 opens skylight to 2475 – 77 target zone.
STAY NIMBLE and ALWAYS USE PROTECTIVE STOPS.
Range Projections and Key Levels
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: September 2017 (U) Contract
*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.
Scenario 1: IF price penetrates and converts PH (2473.25) to upper support, THEN 2475 – 2477.50 zone is targeted.
Scenario 2: IF price violates and converts CD1 Low (2460.00) to lower resistance, THEN downside is open to 1456 – 54 3 Day Central Pivot Zone.
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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