8:30 Chicago Fed National Activity Index
10:00 New Home Sales
10:30 Dallas Fed Manufacturing Survey

S&P 500

Today is Cycle Day 3 (CD3)…Price has pushed lower in overnight trade violating CD1 Low and fulfilling Violation Zones. Bulls will need a recovery above 2747 handle to stem further losses. Should price remain weak into RTH, expectation rises for potential margin selling.

Market Bias: Bullish

CD3 Range High = 2771.00          CD3 Range Low = 2726.25          CD3 Range Avg = 22.50 

Scenario 1: IF price can clear and convert 2747 to support, THEN upside recovery rally targets 2757 handle.

Scenario 2: IF price stays below 2747 during RTH, THEN further downside targets 2737 – 2732 zone.

Range Projections and Key Levels (ES) September (U) Contract

HOD  ATR Range Projection: 2759.00; LOD ATR Range Projection: 2738.25; Cycle Day 1 Low: 2739.00; 3 Day Central Pivot: 2769.75; 3 Day Cycle Target: 2788.00; 10 Day Average True Range 19.50; VIX: 15.10

Nasdaq 100 (NQ)

Today is Cycle Day 3 (CD3)…Price has pushed lower in overnight trade violating CD1 Low and fulfilling Violation Zones. Bulls will need a recovery above 7165 handle to stem further losses. Should price remain weak into RTH, expectation rises for potential margin selling.

Market Bias: Bullish

CD3 Range High = 7193.75          CD3 Range Low = 7117.00          CD3 Range Avg = 51.00

Scenario 1: IF price can clear and convert 7165 to support, THEN upside recovery rally targets 7193 – 7219 zone.

Scenario 2: IF price stays below 7165.00 during RTH, THEN further downside targets  7141.50 – 7130.50 zone.

Range Projections and Key Levels (NQ) September (U) Contract

HOD  ATR Range Projection: 7223.50; LOD ATR Range Projection: 7141.50; Cycle Day 1 Low: 7138.50; 3 Day Central Pivot: 7264.50; 3 Day Cycle Target: 7271.00; 10 Day Average True Range: 81.00; VIX: 15.10

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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