In Europe, at midday, London +0.1%. Paris +0.4%. Frankfurt +0.3%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude -0.4% to $56.47. Gold -0.4% to $1291.40. Bitcoin +0.4% to $8062.
Ten-year Treasury Yield -1 bps to 2.34%
10:00 Leading Indicators
S&P 500 (ES)
Today is Cycle Day 1 (CD1)…Shallow decline in overnight trade found responsive buyers and has rallied back to prior close (2575.75). Normal for CD1 is some magnitude decline with average measuring 2564.50.
Nasdaq 100 (NQ)
Average Decline for CD1 measures 6303.50 which has already been achieved in overnight trade. Bulls will need to secure this low produce a rally with average cycle range targeting 6338 handle.
Range Projections and Key Levels (ES)
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: December 2017 (ESZ) 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: Bulls will need to convert PC (2575.75) to solid support for the overnight rally to continue. IF successful, THEN upside targets measure 2579 – 81 zone, followed by 2586.75 cycle target.
Scenario 2: Bears below PC (2575.75) will have session advantage to retest ONL (2567.75). IF successful, THEN violation of this low opens door to 2565 – 63 cycle violation levels.
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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