In Asia, Japan +1.20%. Hong Kong +0.61%. China -0.41%. India +0.02%.
In Europe, at midday, London -0.20%. Paris -0.27%. Frankfurt -0.01%.
Futures at 5:30, Dow -0.32%. S&P -0.33%. Nasdaq -0.29%. Crude -0.47% to $52.61. Gold +0.24% to $1,487. Bitcoin -2% to $8,136.
Ten-year Treasury Yield -4.5 bps to 1.724%.
(Source: Seeking Alpha) https://seekingalpha.com/
9:00Fed’s Evans: Monetary Policy
10:00Atlanta Fed’s Business Inflation Expectations
10:00NAHB Housing Market Index
2:00 PMFed’s Beige Book
3:00 PMFed’s Brainard: “Future of Money in the Digital Age”
4:00 PMTreasury International Capital
*****New PTG Trading Room Chat Log’s Link
Today is Cycle Day 3 …Price continued this cycle’s rally and fulfilled 3002 Cycle Target Objective in prior session. Extension targets measure between 3008 – 3021 should the bulls continue to push for higher levels. Initial trend support is marked between 2973 – 2976 3 Day Central Pivot Zone.
CD3 Range High = 3027.50 CD3 Range Low = 2955.00 CD3 Range Avg = 43.00
Scenario 1: IF Bulls hold bid above 2988, THEN initial upside targets 2996 – 3003 zone..
Scenario 2: IF Bears hold offer below 2988, THEN initial downside targets 2978 – 2973 zone.
Range Projections and Key Levels (ES) December (Z) Contract
HOD ATR Range Projection: 3021.00; LOD ATR Range Projection: 2962.00; Cycle Day 1 Low: 2953.75; 3 Day Central Pivot: 2975.00; 3 Day Cycle Target: 3008.75; 10 Day Average True Range 36.26; VIX: 13.77
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price has fulfilled this Cycle’s Target Objectives in prior session. Bulls remain in-control but would not be surprised should price pullback to seek new higher support. Low Volume Node Zone between 7910 – 7930 would be a logical area for price to consolidate and “fill-in” the volume void.
CD3 Range High = 8074.50 CD3 Range Low = 7811.50 CD3 Range Avg = 148.50
Scenario 1: IF Bulls hold bid above 7938, THEN initial upside potential targets 7953 – 7960 zone..
Scenario 2: IF Bears hold offer below 7938 THEN initial downside targets 7930 – 7910 zone..
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 8037.50; LOD ATR Range Projection: 7848.00; Cycle Day 1 Low: 7807.00; 3 Day Central Pivot: 7878.00; 3 Day Cycle Target: 7986.50; 10 Day Average True Range: 112.00; VIX: 13.77
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!
“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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