In Europe, at midday, London +0.3%. Paris -0.1%. Frankfurt -0.3%.
Futures at 6:20, Dow -0.3%. S&P -0.4%. Nasdaq -0.6%. Crude +0.2% to $61.80. Gold -0.4% to $1223.60. Bitcoin -0.5% to $6486.
Ten-year Treasury Yield +1 bps to 3.22%
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Today is Cycle Day 2 (CD2)…Price is pulling back during overnight trade following strong up move in prior session. Expectation is for some “back and fill” consolidation in a “Market After Trend Day” (a.k.a. – MATD) First line of possible renewed buy response near 2800, then 2795 levels.
CD2 Range High = 2824.50 CD2 Range Low = 2795.00 CD2 Range Avg = 35.50
Scenario 1: IF price holds bid above 2800, THEN upside targets 2810 – 15 zone.
Scenario 2: IF price holds offer below 2800, THEN downside targets 2795 – 2790 zone.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is pulling back during overnight trade following strong up move in prior session. Expectation is for some “back and fill” consolidation in a “Market After Trend Day” (a.k.a. – MATD) First line of possible renewed buy response near 7175.00, then 7160.00 levels.
CD2 Range High = 7215.50 CD2 Range Low = 7177.50 CD2 Range Avg = 139.50
Scenario 1: IF price holds bid above 7160, THEN upside targets 7190 – 7210 zone.
Scenario 2: IF price holds offer below 7160, THEN downside targets 7150 – 7140 zone.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 7346.00; LOD ATR Range Projection: 7046.50; Cycle Day 1 Low: 6992.50; 3 Day Central Pivot: 7020.50; 3 Day Cycle Target: 7125.50; 10 Day Average True Range: 184.00; VIX: 16.50
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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