In Asia, Japan +0.4%. Hong Kong -0.7%. China -0.7%. India +0.7%.
In Europe, at midday, London -1.1%. Paris -0.2%. Frankfurt -1%.
Futures at 6:20, Dow -0.5%. S&P -0.5%. Nasdaq -0.7%. Crude +1.1% to $53.13. Gold +0.4% to $1514.80. Bitcoin -0.8% to $11765.
Ten-year Treasury Yield -2 bps to 1.69%
(Source: Seeking Alpha) https://seekingalpha.com/
Economic Calendar https://www.investing.com/economic-calendar/
Today is Cycle Day 3 …Price has fulfilled gap recovery and has stabilized from 3% + decline earlier in the week. It’s a light economic calendar; Being a summer Friday pace and trade may be curtailed from recent activity. Initial pullback support is marked 2916 Daily Pivot.
CD3 Range High = 2950.00 CD3 Range Low = 2902.00 CD3 Range Avg = 33.25
Scenario 1: IF Bulls hold bid above 2916, THEN initial upside targets 2926 – 2936 zone.
Scenario 2: IF Bears hold offer below 2916, THEN initial downside targets 2912 – 2902 zone.
Range Projections and Key Levels (ES) September (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3… Price has fulfilled gap recovery and has stabilized from 3% + decline earlier in the week. It’s a light economic calendar; Being a summer Friday pace and trade may be curtailed from recent activity. Initial pullback support is marked 7664 Daily Pivot.
CD3 Range High = 7716.00 CD3 Range Low = 7665.00 CD3 Range Avg = 122.00
Scenario 1: IF Bulls hold bid above 7664, THEN initial upside potential targets 7702 – 7716 zone.
Scenario 2: IF Bears hold offer below 7664, THEN initial downside targets 7632 – 7620 zone.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7825.50; LOD ATR Range Projection: 7555.50; Cycle Day 1 Low: 7387.50; 3 Day Central Pivot: 7533.00; 3 Day Cycle Target: 7534.00; 10 Day Average True Range: 168.36; VIX: 18.54
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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