In Europe, at midday, London +0.2%. Paris -0.7%. Frankfurt -0.3%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.4%. Crude +0.7% to $69.17. Gold +0.1% to $1231.50. Bitcoin flat at $6449.
Ten-year Treasury Yield flat at 3.18%
10:00 Existing Home Sales
12:00 PM Fed’s Bostic: Economic Outlook
12:45 PM Fed’s Kaplan Speech
1:00 PM Baker-Hughes Rig Count
11:30 Fed’s Bostic Speech on Saturday
S&P 500
Today is Cycle Day 3 (CD3)…Sharp decline in prior session acted to test consolidation breakout level 2860 – 2865 zone. Overnight trade has price approximately 20 handles higher. Options Expiration is on tap for today action as price is caught between several potential layers of support & resistance. As such expectation would be for two-sided tug-o-war for dominance.
CD3 Range High = 2798.50 CD3 Range Low = 2758.00 CD3 Range Avg = 27.50
Scenario 1: IF price holds bid above 2785, THEN upside targets 2895 – 2899 3 Day Central Pivot Zone.
Scenario 2: IF price holds offer below 2785, THEN downside targets 2763 – 2758 zone.
Range Projections and Key Levels (ES) December (Z) Contract
HOD ATR Range Projection: 2818.00; LOD ATR Range Projection: 2738.50; Cycle Day 1 Low: 2783.25; 3 Day Central Pivot: 2795.00; 3 Day Cycle Target: 2812.00; 10 Day Average True Range 47.00; VIX: 20.00
Nasdaq 100 (NQ)
Today is Cycle Day 3 …Sharp decline in prior session acted to test consolidation breakout level 7100 – 7120 zone. Overnight trade has price approximately 100 handles higher. Options Expiration is on tap for today action as price is caught between several potential layers of support & resistance. As such expectation would be for two-sided tug-o-war for dominance.
CD3 Range High = 7188.50 CD3 Range Low = 7143.00 CD3 Range Avg = 105.50
Scenario 1: IF price holds bid above 7188, THEN upside targets 7221.50 CD1 Low, followed by 7236 – 7258 3 Day Central Pivot Zone.
Scenario 2: IF price holds offer below 7188, THEN downside targets 7142 – 7120 zone.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 7307.00; LOD ATR Range Projection: 7024.00; Cycle Day 1 Low: 7221.50; 3 Day Central Pivot: 7247.25; 3 Day Cycle Target: 7142.007285.00; 10 Day Average True Range: 172.00; VIX: 20.00
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