In Europe, at midday, London -0.8%. Paris -1.1%. Frankfurt -1.2%.
Futures at 6:20, Dow -0.8%. S&P -0.8%. Nasdaq -1.2%. Crude -0.5% to $64.83. Gold +0.6% to $1329.80. Bitcoin -1.7% to $8742.
Ten-year Treasury Yield -5 bps to 2.85%
Economic Calendar
8:30 Initial Jobless Claims
9:00 FHFA House Price Index
9:45 PMI Composite Flash
9:45 Bloomberg Consumer Comfort Index
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
S&P 500 (ES)
Today is Cycle Day 3 (CD3)…Markets have taken “hawkish” stance by the Powell Fed negatively as price is trading significantly lower reaching 2695 average range in overnight trade. Possible CD3 Range Low = 2683.50.
Scenario 1: Bulls need to hold average range low and push back for recovery rally back above 2712.75 CD1 Low. otherwise a failed 3 day cycle.
Scenario 2: Bears have ball control below 2712.75 CD1 Low with potential to press for 2683.50 handle.
HOD ATR Range Projection: 2726.84; LOD ATR Range Projection: 2694.66; Cycle Day 1 Low: 2712.75; 3 Day Central Pivot: 2724.00; 3 Day Cycle Target: 2778.00; 10 Day Average True Range 31.41; VIX: 19.20
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Markets have taken “hawkish” stance by the Powell Fed negatively as price is trading significantly lower reaching 2695 average range in overnight trade. Possible CD3 Range Low = 6790.00
Scenario 1: Bulls need to hold average range low and push back for recovery rally back above 6863.00 CD1 Low. otherwise a failed 3 day cycle.
Scenario 2: Bears have ball control below 6863.00 CD1 Low with potential to press for 6790.00 CD3 range low.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6894.89; LOD ATR Range Projection: 6810.61; Cycle Day 1 Low: 6863.00; 3 Day Central Pivot: 6907.00; 3 Day Cycle Target: 7039.00; 10 Day Average True Range: 104.39; VIX: 19.20
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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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