This week’s highlight is Wednesday’s decision by the Federal Reserve that will likely see Chairman Jerome Powell and colleagues cut interest rates for the first time in more than a decade, and leave open the possibility of further action down the road.
In Asia, Japan -0.4%. Hong Kong -1%. China -0.1%. India -0.6%.
In Europe, at midday, London +1.1%. Paris -0.3%. Frankfurt -0.1%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude +0.1% to $56.25. Gold -0.1% to $1418.60. Bitcoin +0.3% to $9524.
Ten-year Treasury Yield -2 bps to 2.06%
(Source: Seeking Alpha) https://seekingalpha.com/
Economic Calendar https://www.investing.com/economic-calendar/
Today is Cycle Day 3 …Price is holding recent gains during quiet Globex Session following last week’s rally. With Fed Interest Rate Decision the main focal point trade is expected to lumbar along with upside drift. 3 Day Rally Statistic (3026) has been fulfilled.
CD3 Range High = 3044.00 CD3 Range Low = 3002.00 CD3 Range Avg = 32.00
Scenario 1: IF Bulls hold bid above 3018, THEN upside targets 3028 – 3038 zone.
Scenario 2: IF Bears hold offer below 3018, THEN downside targets 3008 – 2998 zone.
Range Projections and Key Levels (ES) September (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price is holding recent gains during quiet Globex Session following last week’s rally. With Fed Interest Rate Decision the main focal point trade is expected to lumbar along with upside drift. 3 Day Rally Statistic (7987) has been fulfilled.
CD3 Range High = 8060.00 CD3 Range Low = 7970.00 CD3 Range Avg = 114.00
Scenario 1: IF Bulls hold bid above 8015, THEN upside potential targets 8032 – 8040 zone..
Scenario 2: IF Bears hold offer below 8015, THEN downside targets 7996 – 7987 zone.
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.”
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