In Europe, at midday, London -0.06%. Paris -0.24%. Frankfurt -0.24%.
Futures at 6:20, Dow +0.10%. S&P +0.13%. Nasdaq +0.09%. Crude +0.28% to $68.12. Gold +0.54% to $1,312.80. Bitcoin -0.03% to $9,178.
Ten-year Treasury Yield -1.1 bps to 2.953%
7:30 Challenger Job-Cut Report
8:30 Initial Jobless Claims
8:30 Productivity and Costs
8:30 International Trade
9:45 Bloomberg Consumer Comfort Index
9:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:00 Factory Orders
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
S&P 500
Prior Session was Cycle Day 1 (CD1)…NORMAL as price declined, fulfilling downside objective outlined in DTS Briefing 5.2.18 “Scenario 2: IF price violates and converts 2650 handle, THEN downside targets 2644 – 40 zone.”
Today is Cycle Day 2 (CD2)…Currently price is holding above PC (2625.75) and PL (2624.25). Bulls will need to hold bid and convert 2634 handle to support to stem any further decline. Average Range on CD2 = 45.75.
Scenario 1: IF price holds above PC (2625.75), THEN clears and converts 2634 handle, upside recovery objective measures 2642 – 44 zone.
Scenario 2: IF price violates and converts PL (2624.25), THEN downside expansion measures 2613 – 10 zone.
HOD ATR Range Projection: 2657.25; LOD ATR Range Projection: 2603.25; Cycle Day 1 Low: 2625.75; 3 Day Central Pivot: 2646.50; 3 Day Cycle Target: 2650.00; 10 Day Average True Range 33.00; VIX: 15.77
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1)…NORMAL as price declined, fulfilling downside objective outlined in DTS Briefing 5.2.18 “Scenario 2: IF price violates and converts 6690 handle, THEN downside targets 6679.50 – 6660.00 zone.”
Today is Cycle Day 2 (CD2)…Currently price is holding above PC (6628.75) and PL (6625.25). Bulls will need to hold bid and convert 6655 handle to support to stem any further decline. Average Range on CD2 = 147.35.
Scenario 1: IF price holds above PC (6628.75), THEN clears and converts 6655 handle, upside recovery objective measures 6673.50 – 6686.50 zone.
Scenario 2: IF price violates and converts PL (6625.25), THEN downside expansion measures 6600 – 6588.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6744.50; LOD ATR Range Projection: 6529.50; Cycle Day 1 Low: 6625.25; 3 Day Central Pivot: 6659.75; 3 Day Cycle Target: 6686.50; 10 Day Average True Range: 121.50; VIX: 15.77
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.
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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