In Europe, at midday, London +0.2%. Paris flat. Frankfurt +0.3%.
Futures at 6:20, Dow -0.1%. S&P flat. Nasdaq flat. Crude -0.1% to $71.23. Gold flat at $1290.20. Bitcoin -1.3% to $8368.
Ten-year Treasury Yield +1 bps to 3.06%
Today is Cycle Day 2 (CD2)…Expectation is for a period of consolidation following a textbook CD1 normal decline which fulfilled 2702 CD1 Violation Level.
Average Range for CD2 = 22.81
Scenario 1: IF price holds above 2702, THEN conversion of 2715 to support becomes the initial objective. IF successful, THEN recovery rally targets 2725 handle.
Scenario 2: IF price violates and converts 2702 to lower resistance, THEN downside expansion targets 2692 – 2688 zone.
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Expectation is for a period of consolidation following a textbook CD1 normal decline which fulfilled CD1 Violation Level.
Average Range for CD2 = 50.75
Scenario 1: IF price holds above 6854, THEN conversion of 6900 to support becomes the initial objective. IF successful, THEN recovery rally targets 6950 handle.
Scenario 2: IF price violates and converts 6854 to lower resistance, THEN downside expansion targets 6828 – 6805 zone.
Range Projections and Key Levels (NQ)
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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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