In Europe, at midday, London +0.2%. Paris +0.2%. Frankfurt +0.6%.
Futures at 6:20, Dow -0.1%. S&P flat. Nasdaq -0.1%. Crude +0.4% to $61.41. Gold +0.2%to $1320.30. Bitcoin -1.7% to $8116.
Ten-year Treasury Yield flat at 2.81%
Economic Calendar
8:30 Housing Starts
9:15 Industrial Production
10:00 Consumer Sentiment
10:00 Job Openings and Labor Turnover Survey
1:00 PM Baker-Hughes Rig Count
S&P 500 (ES)
Today is Cycle Day 2 (CD2)…Part of this cycle’s rally is in-place…Options Expiration may add some choppiness and confusion to price action. Price is currently trading near Prior Close (2758.50) in Globex Session.
Scenario 1: Bulls must penetrate and convert 2758.50 to get any upside range expansion targeting 2776 handle.
Scenario 2: Bears must violate and convert 2745.00 to get any downside range expansion targeting 2737 handle.
HOD ATR Range Projection: 2784.75; LOD ATR Range Projection: 2725.00; Cycle Day 1 Low: 2783.75; 3 Day Central Pivot: 2766.25; 3 Day Cycle Target: 2710.42; 10 Day Average True Range 34.09; VIX: 16.35
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Part of this cycle’s rally is in-place…Options Expiration may add some choppiness and confusion to price action. Price is currently trading near Prior Close (7076.25) in Globex Session.
Scenario 1: Bulls must penetrate and convert 7100.00 to get any upside range expansion targeting 7120 handle.
Scenario 2: Bears must violate and convert 7032.50 to get any downside range expansion targeting 6991 handle.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 7150.46; LOD ATR Range Projection: 6984.04; Cycle Day 1 Low: 7124.00; 3 Day Central Pivot: 7084.25; 3 Day Cycle Target: 7205.00; 10 Day Average True Range: 98.96; VIX: 16.35
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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
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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