In Europe, at midday, London +0.1%. Paris -0.4%. Frankfurt -0.1%.
Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.6%. Crude +0.4% to $56.45. Gold +0.1% to $1211.20. Bitcoin -14% to $5365.
Ten-year Treasury Yield -2 bps to 3.1%
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
8:30 Retail Sales
8:30 Empire State Mfg Survey
8:30 Import/Export Prices
10:00 Fed’s Reserve Vice Chairman for Supervision Governor Quarles: “Semi-Annual Testimony on the Federal Reserve’s Supervision and Regulation of the Financial System”
10:00 Business Inventories
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
11:00 Jerome Powell Speech
1:00 PM Fed’s Bostic Speech
3:00 PM Fed’s Kashkari Speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
S&P 500
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2713.00. Average Range for CD1 is 36.25 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 42%
CD1 Range High = 2725.00 CD1 Range Low = 2680.00 CD1 Range Avg = 36.25
Scenario 1: IF price holds bid above 2705, THEN upside targets 2712.25 – 2717.25 zone. Conversion of this zone to upper support expands to 2725.75 – 2731.50 3 Day Central Pivot Zone.
Scenario 2: IF price holds offer below 2705, THEN downside targets 2693 – 2689 zone. Conversion of this zone to lower resistance expands to 2681.25 – 2674 STATX Zone.
Range Projections and Key Levels (ES) December (Z) Contract
HOD ATR Range Projection: 2737.50; LOD ATR Range Projection: 2668.25; 3 Day Central Pivot: 2731.50; 3 Day Cycle Target: 2724.00; 10 Day Average True Range 48.50; VIX: 20.83
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 6797.00. Average Range for CD1 is 138.50 handles. Odds of decline > 20 handles = 73% Odds of decline > 25 = 64%
CD1 Range High = 6890.00 CD1 Range Low = 6705.00 CD1 Range Avg = 138.50
Scenario 1: IF price holds bid above 6800, THEN upside targets 6838 – 6850 zone. Conversion of this zone to upper support expands to 6872 – 6895 3 Day Central Pivot Zone.
Scenario 2: IF price holds offer below 6800, THEN downside targets 6760 – 6745 zone. Conversion of this zone to lower resistance expands to 6727.50 – 6705.75 STATX Zone.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 6925.00; LOD ATR Range Projection: 6670.00; 3 Day Central Pivot: 6872.00; 3 Day Cycle Target: 6890.00; 10 Day Average True Range: 173.50; VIX: 20.83
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