In Europe, at midday, London -0.2%. Paris -0.4%. Frankfurt -0.8%.
Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq flat. Crude -0.9% to $61.25. Gold flat at $1331. Bitcoin -2.5% to $10948.
Ten-year Treasury Yield flat at 2.88%
Economic Calendar
7:00 MBA Mortgage Applications
8:55 Redbook Chain Store Sales
9:00 Fed’s Harker: Economic Outlook
9:45 PMI Composite Flash
10:00 Existing Home Sales
11:30 Results of $13B, 2-Year FRN Auction
1:00 PM Results of $35B, 5-Year Note Auction
2:00 PM FOMC minutes
S&P 500 (ES)
Today is Cycle Day 3 (CD3)…Price is currently below CD1 Low (2719.50)..Odds favor trading back above to notch a Positive 3 Day Cycle.
Scenario 1: IF price clears and converts 2719.50, THEN upside targets retest of 2732 – 36 3 Day Central Pivot Zone. IF converted THEN additional upside measures 2745 – 50 zone.
Scenario 2: IF price stays below PC (2715.00) and violates 2705 to lower resistance, THEN downside targets 2694.50 – 2688 zone.
HOD ATR Range Projection: 2750.41; LOD ATR Range Projection: 2677.34; Cycle Day 1 Low: 2719.50; 3 Day Central Pivot: 2729.75; 3 Day Cycle Target: 2765.00; 10 Day Average True Range 44.16; VIX: 20.43
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Positive 3 Day Cycle has been fulfilled as price is above CD1 Low (6758.25). Additional gains can develop with conversion of 6844 handle.
Scenario 1: IF price clears and converts 6718 to upper support, THEN initial upside targets 6843.75. Expansion levels measure 6862.50 – 6874.00 zone.
Scenario 2: IF price violates and converts PC 6792.00 to resistance, THEN downside targets 6758.25, followed by 6723.25 – 6698 zone.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6902.06; LOD ATR Range Projection: 6687.69; Cycle Day 1 Low: 6758.25; 3 Day Central Pivot: 6791.25; 3 Day Cycle Target: 6881.25; 10 Day Average True Range: 127.31; VIX: 20.43
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