In Europe, at midday, London +0.6%. Paris +0.3%. Frankfurt +0.6%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.2%. Crude -0.3% to $69.39. Gold -0.6% to $1218. Bitcoin +0.2% to $7948.
Ten-year Treasury Yield flat at 2.98%
8:30 GDP Q2
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
S&P 500
Today is Cycle Day 3 (CD3)…Price consolidated yesterday in typical CD2 fashion holding key support at 2838 handle. Overnight has price rallying higher nearing 2846.75 – 2848.00 target zone. Further strength targets 2850 handle with support marked between 2840 – 42 zone.
Market Bias: Short-term: Bullish
CD3 Range High = 2861.75 CD3 Range Low = 2824.50 CD3 Range Avg = 27.00
Scenario 1: IF price holds bid above 2840.25, THEN upside targets 2850 – 2853 zone.
Scenario 2: IF price holds offer below 2840.25, THEN downside targets 2833.50 – 2831.00 zone.
Range Projections and Key Levels (ES) September (U) Contract
HOD ATR Range Projection: 2857.75; LOD ATR Range Projection: 2828.50; Cycle Day 1 Low: 2814.00; 3 Day Central Pivot: 2832.25; 3 Day Cycle Target: 2845.55; 10 Day Average True Range 18.50; VIX: 11.95
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price consolidated yesterday in typical CD2 fashion holding key support at 7400 handle. Overnight has price rallying higher nearing 7461.00 – 7470.75 target zone. Further strength targets 7480.50 handle with support marked between 7415 – 7422 zone.
Market Bias: Short-term: Bullish
CD3 Range High = 7478.75 CD3 Range Low = 7368.75 CD3 Range Avg = 98.00
Scenario 1: IF price holds bid above 7426.00, THEN upside targets 7465.50 3 Day Cycle Target. (Note: Fulfilled in overnight trade)
Scenario 2: IF price holds offer below 7426.00, THEN downside targets 7415.25 – 7400.00 zone.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7517.50; LOD ATR Range Projection: 7376.50; Cycle Day 1 Low: 7402.75; 3 Day Central Pivot: 7437.75; 3 Day Cycle Target: 7465.50; 10 Day Average True Range: 90.75; VIX: 11.95
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