Futures wavered between slight gains and losses overnight with investors largely attuned to the Fed’s symposium in Jackson Hole, Wyoming, over the next two days.
In Asia, Japan +0.1%. Hong Kong -0.8%. China -0.1%. India -1.6%.
In Europe, at midday, London -0.6%. Paris -0.4%. Frankfurt -0.1%.
Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.4%. Crude +0.7% to $56.07. Gold -0.5% to $1507.60. Bitcoin -1.5% to $10039.
Ten-year Treasury Yield flat at 1.57%
(Source: Seeking Alpha) https://seekingalpha.com/
8:30Initial Jobless Claims
9:45PMI Composite Flash
10:30EIA Natural Gas Inventory
11:00Kansas City Fed Mfg Survey
4:30 PMMoney Supply
4:30 PMFed Balance Sheet
Economic Calendar https://www.investing.com/economic-calendar/
*****New PTG Trading Room Chat Log’s Link
Today is Cycle Day 3 …Price has fulfilled and exceeded this cycle’s minimum upside objectives. Further targets remain achievable (2941 – 2943) should price clear and convert prior settlement and highs.
CD3 Range High = 2942.50 CD3 Range Low = 2915.00 CD3 Range Avg = 38.50
Scenario 1: IF Bulls hold bid above 2925, THEN initial upside targets 2932 – 2938 zone.
Scenario 2: IF Bears hold offer below 2925, THEN initial downside targets 2915 – 2912 3 Day Central Pivot Zone.
Range Projections and Key Levels (ES) September (U) Contract
HOD ATR Range Projection: 2962.00; LOD ATR Range Projection: 2896.00; Cycle Day 1 Low: 2894.25; 3 Day Central Pivot: 2914.00; 3 Day Cycle Target: 2943.00; 10 Day Average True Range 43.00; VIX: 16.13
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price has fulfilled and exceeded this cycle’s minimum upside objectives. Next upside objective measures 7820 – 7830 zone.
CD3 Range High = 7845 CD3 Range Low = 7655 CD3 Range Avg = 138.00
Scenario 1: IF Bulls hold bid above 7730, THEN initial upside potential targets 7760 – 7780 zone.
Scenario 2: IF Bears hold offer below 7730, THEN initial downside targets 7708 – 7698 3 Day Central Pivot Zone.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7840.00; LOD ATR Range Projection: 7649.00; Cycle Day 1 Low: 7655.50; 3 Day Central Pivot: 7703.00; 3 Day Cycle Target: 7830.00; 10 Day Average True Range: 133.00; VIX: 16.13
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