In Europe, at midday, London +1.9%. Paris +1.5%. Frankfurt +2%.
Futures at 6:20, Dow +0.6%. S&P +0.7%. Nasdaq +1%. Crude +0.4% to $65.80. Gold -0.5% to $1349. Bitcoin -2.3% to $7950.
Ten-year Treasury Yield flat at 2.85%
Economic Calendar
8:55 Redbook Chain Store Sales
9:00 S&P Corelogic Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
1:00 PM Results of $34B, 5-Year Note Auction
S&P 500
Today is Cycle Day 3 (CD3)…Price successfully tested key “over/under” 2612 early in session as bears were unable to regain control. Note: Prior DTS Report’s Scenario 2 stated: “Bears are on the defensive below 2651 handle and need to regain control below 2612.”
Bulls regained control and reversal uptrend accelerated once Open Range High 2634 was cleared, driving to close session near high of day. Overnight trade is extending gains fulfilling range objective 2679 handle.
Scenario 1: IF price clears and converts PH (2662.75), THEN upside measures 2679 CD3 range projection.
Scenario 2: IF price violates and converts PC (2659.75), THEN pullback objective measures 2648 – 2643 zone.
HOD ATR Range Projection: 2707.10; LOD ATR Range Projection: 2649.40; Cycle Day 1 Low: 2586.00; 3 Day Central Pivot: 2641.00; 3 Day Cycle Target: 2651.50; 10 Day Average True Range 50.25; VIX: 20.29
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price successfully tested key “over/under” 6620 early in session as bears were unable to regain control. Note: Prior DTS Report’s Scenario 2 stated: “Bears are on the defensive below 6657.75 handle and need to regain control below 6575.00.”
Bulls regained control and reversal uptrend accelerated once Open Range High 6673.75 was cleared, driving to close session near high of day. Overnight trade is extending gains fulfilling range objective 6820 handle.
Scenario 1: IF price clears and converts PH (6779), THEN upside measures 6820 CD3 range projection.
Scenario 2: IF price violates and converts PC (6776), THEN pullback objective measures 6715 – 6697 zone.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6926.09; LOD ATR Range Projection: 6693.66; Cycle Day 1 Low: 6519.00; 3 Day Central Pivot: 6685.00; 3 Day Cycle Target: 6696.75; 10 Day Average True Range: 155.59; VIX: 20.29
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