In Europe, at midday, London -0.5%. Paris -1.1%. Frankfurt -1.3%.
Futures at 6:20, Dow -1.4%. S&P -1.1%. Nasdaq -1.1%. Crude -1.4% to $64.76. Gold +0.1% to $1281.70. Bitcoin +0.1% to $6714.
Ten-year Treasury Yield -4 bps to 2.88%
Today is Cycle Day 2 (CD2)…Price is continuing its decline in overnight trade fulfilling 2735.25 CD2 Standard Deviation Extreme. Bulls will need to defend above 2742 handle to stem further weakness.
Market Bias: Bullish
CD2 Range High = 2773.00 CD2 Range Low = 2742.75 CD2 Range Avg = 22.75
Scenario 1: IF price holds above 2742 handle, THEN recovery rally targets 2753 – 55 zone.
Scenario 2: IF price violates and converts 2742 handle, THEN retest of 2735.75 for surety would be anticipated.
Range Projections and Key Levels (ES) September (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is continuing its decline in overnight trade fulfilling 7170 CD2 Standard Deviation Extreme. Bulls will need to defend above 7170 handle to stem further weakness.
Market Bias: Bullish
CD2 Range High = 7213.00 CD2 Range Low = 7153.50 CD2 Range Avg = 51.00
Scenario 1: IF price holds above 7170 handle, THEN recovery rally targets 7200 – 7213 zone.
Scenario 2: IF price violates and converts 7170 handle, THEN lower target measures 7153.50.
Range Projections and Key Levels (NQ) September (U) Contract
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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