In Asia, Japan -0.5%. Hong Kong -1.6%. China -0.3%. India -0.2%.
In Europe, at midday, London -0.6%. Paris -0.1%. Frankfurt flat.
Futures at 6:20, Dow -0.1%. S&P -0.1%. Nasdaq -0.1%. Crude -0.4% to $56.78. Gold -0.3% to $1469.20. Bitcoin -2.4% to $7879.
Ten-year Treasury Yield +1 bps to 1.75%
Source: Seeking Alpha https://seekingalpha.com
8:30Initial Jobless Claims
8:30Philly Fed Business Outlook
8:30Fed’s Mester Speech
10:00Existing Home Sales
10:10Fed’s Kashkari Speech
10:30EIA Natural Gas Inventory
4:30 PMMoney Supply
4:30 PMFed Balance Sheet
Today is Cycle Day 2 (CD2)…Price successfully retested Cycle Day 1 Low (3090.75) during overnight trade and rallied back to prior close (3108.75). Half of this Cycle’s expected rally is in place, which could make for a confusing CD2 RTH Trade Session.
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CD2 Range High = 3116.00 CD2 Range Low = 3088.00 CD2 Range Avg = 34.00
Scenario 1: IF Bulls hold bid above 3102, THEN initial upside potential targets 3112 – 3116 zone.
Scenario 2: IF Bears hold offer below 3102, THEN initial downside objective targets 3095 – 3090 zone.
Range Projections and Key Levels (ES) December 2019 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price successfully retested Cycle Day 1 Low (8231) during overnight trade and rallied back to prior close (8288.25). Half of this Cycle expected rally is in place, which could make for a confusing CD2 RTH Trade Session.
CD2 Range High = 8300.00 CD2 Range Low = 8239.00 CD2 Range Avg = 118.00
Scenario 1: IF Bulls hold bid above 8270, THEN initial upside potential targets 8300 – 8310 zone.
Scenario 2: IF Bears hold offer below 8270, THEN initial downside objective targets 8239 – 8229 zone.
Range Projections and Key Levels (NQ) December 2019 (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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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