Trade Strategy 9.14.18

Markets
 
In Asia, Japan +1.2%. Hong Kong +1%. China -0.2%. India +1%
In Europe, at midday, London +0.3%. Paris +0.3%. Frankfurt +0.3%
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.4%. Crude +0.3% to $68.77. Gold +0.2% to $1210.70. Bitcoin -0.6% to $6447. 
Ten-year Treasury Yield +2 bps to 2.98%
 
(Source: Seeking Alpha)
 
Economic Calendar

http://mam.econoday.com/

8:30 Retail Sales
8:30 Import/Export Prices
9:00 Fed’s Evans: Monetary Policy and Economic Outlook
9:15 Industrial Production
10:00 Business Inventories
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count

S&P 500

Today is Cycle Day 2 (CD2)…Rally as reasserted itself during the overnight trade following temporary pause in prior session. Price is nearing CD2 Penetration Level (2913.00) with additional upside targets between 2916 – 2921 zone.

***NOTE: Contract Rollover has begun to December (Z) from September (U)

CD2 Range High = 2925.50          CD2 Range Low = 2890.50         CD2 Range Avg = 21.50

Scenario 1: IF price holds bid above 2906 handle, THEN upside targets range between 2912 – 2916 zone, with extension to 2921 range high projection.

Scenario 2: IF price holds offer below 2906 handle, THEN downside targets 2903 down to 2898 – 96 key support zone.

Range Projections and Key Levels (ES) December (Z) Contract

HOD  ATR Range Projection: 2921.50; LOD ATR Range Projection: 2893.50; Cycle Day 1 Low: 2889.75; 3 Day Central Pivot: 2890.00; 3 Day Cycle Target: 2916.50; 10 Day Average True Range 19.00; VIX: 12.13

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Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Rally as reasserted itself during the overnight trade following temporary pause in prior session. Price is nearing CD2 Penetration Level (7593.00) with additional upside targets between 7611 – 7631 zone.

***NOTE: Contract Rollover has begun to December (Z) from September (U)

CD2 Range High = 7647.50         CD2 Range Low = 7510.75          CD2 Range Avg = 88.00

Scenario 1: IF price holds bid above 7565 handle, THEN upside targets between 7583 – 7611 zone, followed by 7631.

Scenario 2: IF price holds offer below 7565 handle, THEN downside targets 7546.50, followed by 7525 – 7510 zone.

Range Projections and Key Levels (NQ) December (Z) Contract

HOD  ATR Range Projection: 7649.00; LOD ATR Range Projection: 7510.00; Cycle Day 1 Low: 7496.75; 3 Day Central Pivot: 7501.00; 3 Day Cycle Target: 7611.00; 10 Day Average True Range: 89.00; VIX: 12.13

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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.

Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.

This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

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