Markets
Stocks across the globe mostly gained at the end of a week marked by renewed sentiment surrounding U.S.-China trade relations despite impending new tariffs. U.S. stock index futures are riding the optimism, ahead by 0.6%, following yesterday’s strong session that saw the Dow close up 326 points.
In Asia, Japan +1.2%. Hong Kong +0.1%. China -0.2%. India +0.7%.
In Europe, at midday, London +0.7%. Paris +0.9%. Frankfurt +1.1%.
Futures at 6:20, Dow +0.6%. S&P +0.6%. Nasdaq +0.6%. Crude -1% to $56.16. Gold -0.2% to $1534.60. Bitcoin +1.2% to $9559.
Ten-year Treasury Yield flat at 1.52%
(Source: Seeking Alpha) https://seekingalpha.com/
Economic Calendar https://www.investing.com/economic-calendar/
8:30Personal Income and Outlays
9:45Chicago PMI
10:00Consumer Sentiment
1:00 PMBaker-Hughes Rig Count
3:00 PMFarm Prices
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S&P 500
Today is Cycle Day 3 …Price has fulfilled and exceeded this cycle’s upside objective (2901.25). Extension targets remain achievable (2940 – 2848) should price clear and convert 2930.75 prior high.
Bulls are squarely in-control and end-of-month “window dressing” may take effect.
CD3 Range High = 2958.50 CD3 Range Low = 2908.50 CD3 Range Avg = 38.00
Scenario 1: IF Bulls hold bid above 2924, THEN initial upside targets 2940 – 2948 zone.
Scenario 2: IF Bears hold offer below 2924, THEN initial downside targets 2917 – 2910 Central Pivot Zone.
Range Projections and Key Levels (ES) September (U) Contract
HOD ATR Range Projection: 2965.00; LOD ATR Range Projection: 2902.00; Cycle Day 1 Low: 2851.75; 3 Day Central Pivot: 2887.00; 3 Day Cycle Target: 2901.25; 10 Day Average True Range 44.53; VIX: 17.32
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price has fulfilled and exceeded this cycle’s upside objective (7685). Next upside objective measures 7753 – 7780 zone.
CD3 Range High = 7824.50 CD3 Range Low = 7635.00 CD3 Range Avg = 136.00
Scenario 1: IF Bulls hold bid above 7712, THEN initial upside potential targets 7753 – 7780 zone.
Scenario 2: IF Bears hold offer below 7712, THEN initial downside targets 7700 – 7685 zone.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7845.00; LOD ATR Range Projection: 7635.00; Cycle Day 1 Low: 7504.50; 3 Day Central Pivot: 7603.00; 3 Day Cycle Target: 7685.00; 10 Day Average True Range: 135.67; VIX: 17.32
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.
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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