In Europe, at midday, London flat. Paris +0.2%. Frankfurt +0.1%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.4%. Crude +0.2% to $72.52. Gold +0.2% to $1293.90. Bitcoin -1.6% to $8261.
Ten-year Treasury Yield +1 bps to 3.08%
8:55 Redbook Chain Store Sales
10:00 Richmond Fed Mfg
1:00 PM Results of $33B, 2-Year Note Auction
S&P 500
Today is Cycle Day 3 (CD3)…Price has fulfilled this cycle’s minimum objectives in prior session. Bullish momentum remains largely intact with potential for higher secondary cycle objectives should prior high firmly convert.
Average Range for CD3 = 22.50
Scenario 1: IF price clears and converts 2740 handle, THEN upside targets 2750 – 53 zone.
Scenario 2: Violation of 2733 handle opens door to 2724 – 22 3 Day Central Pivot Zone.
HOD ATR Range Projection: 2753.50; LOD ATR Range Projection: 2616.00; Cycle Day 1 Low: 2661.25; 3 Day Central Pivot: 2723.00; 3 Day Cycle Target: 2687.95; 10 Day Average True Range 23.00; VIX: 13.00
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price has fulfilled this cycle’s objectives in prior session. Bullish momentum remains largely intact with potential for higher secondary cycle objectives should prior high firmly convert.
Average Range for CD3 = 51.00
Scenario 1: IF price clears and converts 6955 handle, THEN upside targets 6988 – 7000 zone.
Scenario 2: Violation of 6914 handle opens door to 6896 – 6887 zone.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6988.00; LOD ATR Range Projection: 6867.50; Cycle Day 1 Low: 6772.25; 3 Day Central Pivot: 6907.25; 3 Day Cycle Target: 6833.75; 10 Day Average True Range: 80.25; VIX: 13.00
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