In Europe, at midday, London -0.6%. Paris -1.5%. Frankfurt -1.6%.
Futures at 6:20, Dow -0.8%. S&P -0.6%. Nasdaq -1.1%. Crude +0.3% to $64.51. Gold +1.1% to $1342.40. Bitcoin -2.7% to $8479.
Ten-year Treasury Yield flat at 2.82%
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2625.75. Average Range for CD1 is 42.29 handles. Odds of decline > 10 handles = 71% Odds of decline > 20 = 41% Possible CD1 Range Low = 2624.50.
Scenario 1: Bulls must hold above 2642.60 to stabilize price action from prior session aggressive sell-off. IF successful, THEN initial recovery targets 2643.25 – 2646.75 zone, followed by 2656.25.
Scenario 2: Bears job is to continue the press below PC (2646.75) and force a violation of 2634.50 handle to extend the down-slide targeting 2617, followed by 2607.75.
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 6642.75. Average Range for CD1 is 117.40 handles. Odds of decline > 20 handles = 72% Odds of decline > 25 = 63% Possible CD1 Range Low = 6577.75.
Scenario 1: Bulls must hold above 6600 to stabilize price action from prior session aggressive sell-off. IF successful, THEN initial recovery targets 6694.75 – 6712.00 zone, followed by 6773 handle.
Scenario 2: Bears job is to continue the press below PC (6694.75) and force a violation of 6600 handle to extend the down-slide targeting 6590, followed by 6577.75
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6711.98; LOD ATR Range Projection: 6577.52; Cycle Day 1 Low: 6863.00; 3 Day Central Pivot: 6853.25; 3 Day Cycle Target: 7039.00; 10 Day Average True Range: 117.73; VIX: 24.10
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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