In Europe, at midday, London flat. Paris +0.1%. Frankfurt -0.2%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude -0.2% to $67.75. Gold -0.7% to $1194.40. Bitcoin +0.9% to $6416.
Ten-year Treasury Yield flat at 2.82%
S&P 500
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2844.50. Average Range for CD1 is 25.00 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 42%
CD1 Range High = 2880.50 CD1 Range Low = 2841.50 CD1 Range Avg = 25.00
Scenario 1: IF price holds bid above 2858, THEN initial upside measure 2868.25…Clear and convert this level opens skylight to 2871 – 2876 zone.
Scenario 2: IF price holds offer below 2858, THEN initial downside measures 2854 – 2852 zone, followed by 2846 – 2822 CD1 Average Decline zone.
Range Projections and Key Levels (ES) September (U) Contract
HOD ATR Range Projection: 2876.50; LOD ATR Range Projection: 2845.50; 3 Day Central Pivot: 2858.25; 3 Day Cycle Target: 2884.50; 10 Day Average True Range 19.00; VIX: 12.11
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7350.00. Average Range for CD1 is 91.50 handles. Odds of decline > 20 handles = 73% Odds of decline > 25 = 64%
CD1 Range High = 7467.00 CD1 Range Low = 7390.50 CD1 Range Avg = 91.50
Scenario 1: IF price holds bid above 7416, THEN initial upside measures 7444.75…IF this level is converted, THEN upside extension targets 7463 – 7467 zone, followed by 7479.50 – 7490.50.
Scenario 2: IF price holds offer below 7416, THEN initial downside measures 7398.50…IF this level is violated and converted, THEN downside extension targets 7380 – 7367 zone.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7490.50; LOD ATR Range Projection: 7367.25; 3 Day Central Pivot: 7398.00; 3 Day Cycle Target: 7479.50; 10 Day Average True Range: 74.25; VIX: 12.11
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!
Good Trading…David
“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