In Europe, at midday, London +0.9%. Paris +0.1%. Frankfurt +0.3%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude -0.2% to $69.06. Gold +0.1% to $1219.30. Bitcoin -3.4% to $6487.
Ten-year Treasury Yield flat at 2.97%
7:00 MBA Mortgage Applications
10:30 EIA Petroleum Inventories
1:00 PM Results of $26B, 10-Year Note Auction
S&P 500
Today is Cycle Day 2 (CD2)…Quiet Summertime trade in prior session as price continues to consolidate recent gains. Bullish trend intact above 2830 3 Day Central Pivot.
Market Bias: Bullish
CD2 Range High = 2879.00 CD2 Range Low = 2836.50 CD2 Range Avg = 25.00
Scenario 1: IF price clears and converts 2863.75, THEN upside targets 2871 – 2873 zone.
Scenario 2: IF price violates and converts 2856 handle, THEN downside targets 2846.25 – 2844.50 3D CPZ.
Range Projections and Key Levels (ES) September (U) Contract
HOD ATR Range Projection: 2876.25; LOD ATR Range Projection: 2841.50; Cycle Day 1 Low: 2848.250; 3 Day Central Pivot: 2846.25; 3 Day Cycle Target: 2875.00; 10 Day Average True Range 20.00; VIX: 10.86
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Quiet Summertime trade in prior session as price continues to consolidate recent gains. Bullish trend intact above 7430 3 Day Central Pivot.
Market Bias: Bullish
CD2 Range High = 7555.50 CD2 Range Low = 7390.50 CD2 Range Avg = 91.45
Scenario 1: IF price clears and converts 7487.00, THEN upside targets 7503.25 – 7513.25 zone.
Scenario 2: IF price violates and converts 7450.50, THEN downside targets 7436.25 – 7423.75 3D CPZ.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7547.75; LOD ATR Range Projection: 7397.75; Cycle Day 1 Low: 7450.50; 3 Day Central Pivot: 7430.00; 3 Day Cycle Target: 7572.75; 10 Day Average True Range: 83.89; VIX: 10.86
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