In Europe, at midday, London -0.4%. Paris +0.7%. Frankfurt +0.7%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.3%. Crude +0.1% to $65.47. Gold +0.5% to $1200.80. Bitcoin +3% to $6441.
Ten-year Treasury Yield +2 bps to 2.84%
Today is Cycle Day 2 (CD2)…Prior Session was a CD1. Price did produce a decline albeit very shallow with sub-par trader participation. As such, bulls remain in control and current rally is unfolding during overnight session targeting 2870 handle.
CD2 Range High = 2878.00 CD2 Range Low = 2842.00 CD2 Range Avg = 24.25
Scenario 1: IF price clears and converts 2860.75, THEN upside extension targets 2870 – 2873 handle zone..
Scenario 2: IF price holds offer below 2856.00, THEN downside targets 2847.50 3D Central Pivot.
Range Projections and Key Levels (ES) September (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price did produce a CD1 normal decline, but was also shallower than historical averages for NQ. Late session reversal off lows has continued to rally in overnight trade fulfilling 7404.50 Average Cycle Rally.
CD2 Range High = 7459.50 CD2 Range Low = 7358.50 CD2 Range Avg = 90.50
Scenario 1: IF price holds bid above 7380.25, THEN targets 7404.50 Average Cycle Rally.
Scenario 2: IF price holds offers below 7380.25, THEN downside targets 7358.50 – 7351.50 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.”
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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