In Europe, at midday, London closed. Paris closed. Frankfurt closed.
Futures at 6:20, Dow -0.28%. S&P -0.23%. Nasdaq -0.52%. Crude +0.35%to $65.17. Gold +0.59% to $1,335.10.
Ten-year Treasury Yield +1.7 bps to 2.761%
Today is Cycle Day 3 (CD3)…Quiet overnight trade with narrow range as 2nd Quarter begins. Partial cycle rally is in-place, with an ultimate target of 2663.50. Bulls will need to keep bid above 2628 handle.
Scenario 1: IF price clears and converts 2642, THEN upside target measures 2653, followed by 2663.50.
Scenario 2: IF price violates and converts 2628 to lower resistance, THEN downside targets 2618, followed by 2608 handle.
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Quiet overnight trade with narrow range as 2nd Quarter begins. Partial cycle rally is in-place, with an ultimate target of 6613.50. Bulls will need to keep bid above 6562 handle.
Scenario 1: IF price clears and converts 6575, THEN upside target measures 6588.50, followed by 6613.50.
Scenario 2: IF price violates and converts 6538.50 to lower resistance, THEN downside targets 6513.75, followed by 6500 handle.
Range Projections and Key Levels (NQ)
HOD ATR Range Projection: 6713.62; LOD ATR Range Projection: 6402.25; Cycle Day 1 Low: 6421.00; 3 Day Central Pivot: 6561.25; 3 Day Cycle Target: 6613.50; 10 Day Average True Range: 186.37; VIX: 21.28
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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