Markets
In Asia, Japan flat. Hong Kong +0.2%. China +0.2%. India +0.5%.
In Europe, at midday, London +0.7%. Paris +0.3%. Frankfurt +0.5%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude +0.8% to $62.11. Gold -0.2% to $1291.80. Bitcoin +15.6% to $4763.
Ten-year Treasury Yield -2 bps to 2.47%
Source: Seeking Alpha
8:30Durable Goods
8:55Redbook Chain Store Sales
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S&P 500
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2850.00. Average Range for CD1 is 26.00 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 43%
CD1 Range High = 2888.25 CD1 Range Low = 2848.75 CD1 Range Avg = 26.00
Scenario 1: IF Bulls hold bid above 2870.50, THEN initial upside targets 2877.25 – 2880.75 STATX Zone.
Scenario 2: IF Bears hold offer below 2870.50, THEN initial downside targets 2866.50 – 2862.75 Central Pivot Zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
HOD ATR Range Projection: 2895.50; LOD ATR Range Projection: 2741.50; 3 Day Central Pivot: 2836.75 3 Day Cycle Target: 2892.50; 10 Day Average True Range 31.00; VIX: 13.50
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7420.25. Average Range for CD1 is 83.00 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 65%
CD1 Range High =7538.75 CD1 Range Low = 7424.00 CD1 Range Avg = 83.00
Scenario 1: IF Bulls hold bid above 7497.50, THEN initial upside targets 7516.50 – 7525.75 STATX Zone.
Scenario 2: IF Bears hold offer below 7497.50, THEN initial downside targets 7487.50 – 7477.50 Central Pivot Zone.
Range Projections and Key Levels (NQ) June 2019 (M) Contract
HOD ATR Range Projection: 7580.25; LOD ATR Range Projection: 7410.25; 3 Day Central Pivot: 7403.00; 3 Day Cycle Target: 7552.00; 10 Day Average True Range: 96.50; VIX: 13.50
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