In Europe, at midday, London +0.03%. Paris +0.28%. Frankfurt +0.19%.
Futures at 6:20, Dow +0.04%. S&P -0.05%. Nasdaq +0.03%. Crude -0.03%to $69.57. Gold +0.40% to $1,207.80. Bitcoin +1% to $6,329.
Ten-year Treasury Yield +1.1 bps to 3.059%.
Today is Cycle Day 2 (CD2)…Price vaulted higher on CD1 to fulfill upside cycle target (2916.50) and was rejected at 2917.25 prior week’s high. This level will be marked as key resistance until such it can be converted to new upper support. Meanwhile, expectation will be for some back n fill consolidation type trade to absorb recent sharp gains. Current trader playground (12 handle range) is between 2902 – 2914.
CD2 Range High = 2931.50 CD2 Range Low = 2892.50 CD2 Range Avg = 21.50
Scenario 1: IF price holds bid above 2912, THEN upside targets a test of PH (2917.75). IF cleared and converted, THEN expansion targets 2922.50 – 2926.50 zone.
Scenario 2: IF price holds offer below 2912, THEN downside targets test of 2904 – 2902 zone. Failure of responsive bid opens door to deeper 2896 – 2894 zone.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price vaulted higher on CD1 to fulfill upside cycle target (7560.25). This level will be marked as key resistance until such it can be converted to new upper support. Meanwhile, expectation will be for some back n fill consolidation type trade to absorb recent sharp gains. Current trader playground (70 handle range) is between 7560 – 7490.
CD2 Range High = 7603.50 CD2 Range Low = 7451.50 CD2 Range Avg = 88.50
Scenario 1: IF price holds bid above 7530, THEN upside target test of 7560 cycle target. IF cleared and converted, THEN expansion targets 7576.25 – 7603.50 zone.
Scenario 2: IF price holds offer below 7530, THEN downside targets 7500 – 7490 zone. Failure of responsive bid opens door to deeper 7460 – 7447.25 zone.
Range Projections and Key Levels (NQ) December (Z) 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