In Europe, at midday, London -0.6%. Paris -0.2%. Frankfurt -0.5%.
Futures at 6:20, Dow -0.4%. S&P -0.2%. Nasdaq -0.3%. Crude +0.4% to $69.77. Gold -0.3% to $1208.50. Bitcoin -1.8% to $6910.
Ten-year Treasury Yield flat at 2.88%
Today is Cycle Day 3 (CD3)…Price rallied in prior session fulfilling CD2 Penetration Target (2916), then struggled to make further gains. Overnight trade has price trading lower in search of renewed buy response. Key support is marked at 2900 3 Day Central Pivot.
CD3 Range High = 2930.50 CD3 Range Low = 2893.50 CD3 Range Avg = 24.00
Scenario 1: IF price holds bid above 2912 handle, THEN initial objective is to retest 2915.50 – 2917.50 zone. IF converted to support, THEN upside extension measures 2921.25 3 Day Cycle Target.
Scenario 2: IF price holds offer below 2912 handle, THEN initial objective is to find renewed buy response near 2907 – 2904 low volume zone.
Range Projections and Key Levels (ES) September (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price rallied in prior session fulfilling CD2 Penetration Target, then struggled to make further gains. Overnight trade has price trading lower in search of renewed buy response. Key support is marked at 7589.50 3 Day Central Pivot.
CD3 Range High = 7699.50 CD3 Range Low = 7622.50 CD3 Range Avg = 98.00
Scenario 1: IF price holds bid above 7660 handle, THEN initial objective is to retest 7672.50 prior close. IF converted to support, THEN upside extension measures 7681.00 3 Day Cycle Target.
Scenario 2: IF price holds offer below 7660 handle, THEN initial objective is to find renewed buy response near 7645 – 7650 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