In Europe, at midday, London flat. Paris -0.3%. Frankfurt +0.2%.
Futures at 6:20, Dow -0.4%. S&P -0.4%. Nasdaq -0.8%. Crude +0.7% to $71.81. Gold +1% to $1234.30. Bitcoin +5.3% to $6553.
Ten-year Treasury Yield flat at 3.15%
8:30 Empire State Mfg Survey
8:30 Retail Sales
10:00 Business Inventories
S&P 500
Today is Cycle Day 2 (CD2)…Following last weeks sharp decline, markets are in search of new balance and stabilization. Overnight trade was weak early as Asian markets slid lower with European trade much firmer heading into US Session.
CD2 Range High = 2771.00 CD2 Range Low = 2745.50 CD2 Range Avg = 25.50
Scenario 1: Price tagged lower target (2745.50) and has rallied, approaching upper CD2 range target (2771.00). IF price holds bid above 2763, THEN upside targets 2771, followed by 2776 3 Day Central Pivot.
Scenario 2: IF price holds offer below 2763, THEN downside targets 2745.50 CD2 range projection. Violation of this zone opens door to retest 2732.25 CD1 Low.
Range Projections and Key Levels (ES) December (Z) Contract
HOD ATR Range Projection: 2792.25; LOD ATR Range Projection: 2724.25; Cycle Day 1 Low: 2732.25; 3 Day Central Pivot: 2776.00; 3 Day Cycle Target: 2759.25; 10 Day Average True Range 47.00; VIX: 21.57
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Following last weeks sharp decline, markets are in search of new balance and stabilization. Overnight trade was weak early as Asian markets slid lower with European trade much firmer heading into US Session.
CD2 Range High = 7189.25 CD2 Range Low = 7070.25 CD2 Range Avg = 108.75
Scenario 1: IF price holds bid above 7102, THE upside targets 7162, followed by 7170 – 7190 zone.
Scenario 2: IF price holds offer below 7102, THEN downside targets 7057.25 – 7038.00 STATX Zone and 7035 CD1 Low.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 7257.50; LOD ATR Range Projection: 7002.00; Cycle Day 1 Low: 7035.00; 3 Day Central Pivot: 7102.25; 3 Day Cycle Target: 7142.00; 10 Day Average True Range: 177.00; VIX: 21.57
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