In Europe, at midday, London -0.3%. Paris -0.2%. Frankfurt +0.1%.
Futures at 6:20, Dow -0.4%. S&P -0.5%. Nasdaq -1.2%. Crude +1.6% to $57.57. Gold +0.2% to $1216.70. Bitcoin +2.7% to $5553.
Ten-year Treasury Yield flat at 3.11%
9:15 Industrial Production
10:00 Quarterly Services Report (Advance)
11:00 Kansas City Fed Mfg Survey
11:30 PM Fed’s Evans: Monetary Policy
1:00 PM Baker-Hughes Rig Count
4:00 PM Treasury International Capital
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S&P 500
Today is Cycle Day 2 (CD2)…Early weakness drove price down to CD1 Statistical Extreme (STATX) Levels before finding responsive buyers…Only to reverse rally back higher to fulfill upside objectives outlined in prior DTS Briefing 11.15.18.
Overnight trade has retreated from highs, currently trading near key 3 Day Central Pivot Zone. Expectation for today will be continued elevated volatility with wider than normal swings.
****Manage risk and position sizes carefully and only select the highest quality setups.
CD2 Range High = 2749.50 CD2 Range Low = 2696.00 CD2 Range Avg = 36.00
Scenario 1: IF price holds bid above 2712, THEN upside targets 2724 – 2728 zone.
Scenario 2: IF price holds offer below 2712, THEN downside targets 2704 – 2700 zone.
Range Projections and Key Levels (ES) December (Z) Contract
HOD ATR Range Projection: 2765.00; LOD ATR Range Projection: 2680.00; Cycle Day 1 Low: 2671.25; 3 Day Central Pivot: 2720.00; 3 Day Cycle Target: 2706.00; 10 Day Average True Range 52.00; VIX: 21.00
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Early weakness drove price down to CD1 Statistical Extreme (STATX) Levels before finding responsive buyers…Only to reverse rally back higher to fulfill upside objectives outlined in prior DTS Briefing 11.15.18.
CD2 Range High = 6964.00 CD2 Range Low = 6743.00 CD2 Range Avg = 142.00
Scenario 1: IF price holds bid above 6820, THEN upside targets 6864 – 6884 zone.
Scenario 2: IF price holds offer below 6820, THEN downside targets 6800 – 6775 zone.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 7000; LOD ATR Range Projection: 6707.00; Cycle Day 1 Low: 6712.25; 3 Day Central Pivot: 6845.00; 3 Day Cycle Target: 6850.00; 10 Day Average True Range: 180.00; VIX: 21.00
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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