In Europe, at midday, London +0.7%. Paris +0.5%. Frankfurt +0.7%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.3%. Crude +0.2% to $47.63. Gold -0.4% to $1291.
Early selling was absorbed as bargain hunters stepped in to bid price higher by session close. Price is extending gains in overnight session, reaching minimum 3 Day Cycle Target (2435.88).
Today is Cycle Day 3 (CD3)…There remains additional room for price to rally higher targeting 2442 handle…Though having reached minimum cycle target (2435.88) violation and conversion back below 2424 places ball back in bear camp.
STAY NIMBLE and ALWAYS USE PROTECTIVE STOPS.
Range Projections and Key Levels
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: September 2017 (U) Contract
*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.
Scenario 1: IF price clears and converts PH (2431.50), THEN upside is open to extend the rally to 2442 – 2445 zone.
Scenario 2: IF price violates and converts 2424 (VWAP) to lower resistance, advantage shifts back to bears targeting 2420 – 2415 zone.
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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