In Europe, at midday, London -0.2%. Paris -0.2%. Frankfurt flat.
Futures at 6:20, Dow +0.1%. S&P +0.3%. Nasdaq +0.6%. Crude -0.3% to $50.98. Gold -0.3% to $1246.50. Bitcoin -2.1% to $3360.
Ten-year Treasury Yield -1 bps to 2.89%
8:30 Initial Jobless Claims
8:30 Import/Export Prices
10:30 EIA Natural Gas Inventory
1:00 PM Results of $16B, 30-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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S&P 500
Today is Cycle Day 3 (CD3)…3 Day Cycle Targets have been fulfilled and as such price could continue to consolidate with recent range as 2650 is marked as “key support”. Price is also above 3 Day Central Pivot zone so bulls will need to hold above to maintain control.
CD3 Range High = 2670.00 CD3 Range Low = 2647.50 CD3 Range Avg = 47.00
Scenario 1: IF price holds bid above 2650, THEN upside targets 2670 CD3 range high. Conversion above this level opens skylight to 2684 – 2690.25 STATX Zone.
Scenario 2: IF price holds offer below 2650, THEN downside targets 2642 – 2636 3D Central Pivot Zone. Conversion below this zone open trap door to 2629.25 – 2622.75 STATX Zone.
Range Projections and Key Levels (ES) December (Z) Contract
HOD ATR Range Projection: 2705.50; LOD ATR Range Projection: 2612.50; Cycle Day 1 Low: 2621.25; 3 Day Central Pivot: 2641.50; 3 Day Cycle Target: 2665.00; 10 Day Average True Range 58.00; VIX: 21.00
Nasdaq 100 (NQ)
Today is Cycle Day 3 …3 Day Cycle Targets have been fulfilled and as such price could continue to consolidate with recent range as 6730 is marked as “key support”. Price is also above 3 Day Central Pivot zone so bulls will need to hold above to maintain control.
CD3 Range High = 6720.25 CD3 Range Low = 6672.50 CD3 Range Avg = 165.00
Scenario 1: IF price holds bid above 6770, THEN upside targets 6820.25 CD3 range high. Conversion above this level opens skylight to 6867.75 – 6890.00 STATX Zone.
Scenario 2: IF price holds offer below 6770, THEN downside targets 6713 – 6711 3D Central Pivot Zone. Conversion below this zone open trap door to 6679.25 – 6657.00 STATX Zone.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 6941.25; LOD ATR Range Projection: 6662.00; Cycle Day 1 Low: 6651.25; 3 Day Central Pivot: 6712.00; 3 Day Cycle Target: 6812.00; 10 Day Average True Range: 173.00; VIX: 21.00
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.
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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