In Europe, at midday, London -0.6%. Paris -0.4%. Frankfurt -0.6%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq -0.1%. Crude +0.4% to $74.62. Gold +0.3% to $1205.50. Bitcoin -0.2% to $6544.
Ten-year Treasury Yield +1 bps to 3.2%
Today is Cycle Day 2 (CD2)…Sharp sell-off in prior session exceeded Cycle Day 1 extreme parameters and found some support near 50 day sma (2886). This level will be marked as a “key buy response” level which may be retested in the coming sessions. For today, rally off deep low has rebounded back to 2916 3 Day Cycle target and currently trading at 2908 Central Pivot. Expectation would be for continued search for new balance zone.
CD2 Range High = 2919.50 CD2 Range Low = 2992.50 CD2 Range Avg = 18.75
Scenario 1: IF price holds bid above 2908, THEN upside targets 2916 – 2919 zone. Range High and 3D Central Pivot overlap @ 2923 handle.
Scenario 2: IF price holds offer below 2908, THEN downside targets 2896 – 2893 Range Low zone, with possible re-test of 2887.75 (CD1 Low) for surety.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Sharp sell-off in prior session exceeded Cycle Day 1 extreme parameters and found responsive buyers near key support (7450). This level will be marked as a “key buy response” level which may be retested in the coming sessions. For today, rally off deep low has rebounded back to 7533.75 – 7443.75 Central Pivot Zone. Expectation would be for continued search for new balance zone.
CD2 Range High = 7531.75 CD2 Range Low = 7487.75 CD2 Range Avg = 83.50
Scenario 1: IF price holds bid above 7500, THEN upside potential targets 2933 – 2953 zone.
Scenario 2: IF price holds offer below 7500, THEN downside potential targets 7487 – 7475 zone.
Range Projections and Key Levels (NQ) December (Z) Contract
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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