In Europe, at midday, London +0.19%. Paris +0.25%. Frankfurt +0.13%.
Futures at 6:20, Dow +0.18%. S&P +0.17%. Nasdaq +0.22%. Crude +0.88% to $68.43. Gold +0.21% to $1,196.50. Bitcoin +1.3% to $6,526.
Ten-year Treasury Yield +1.2 bps to 2.833%.
S&P 500
Today is Cycle Day 2 (CD2)…Markets rallied during AM Session, then sold off during PM Session, ultimately settling near Midpoint. Key support zone 2856 – 58 continues to hold as overnight trade has pushed higher to 2865 which is key conversion level.
CD2 Range High = 2879.00 CD2 Range Low = 2842.00 CD2 Range Avg = 23.75
Scenario 1: IF price holds bid above 2858, THEN initial objective is to clear and convert 2865. IF successful, THEN upside targets 2869 – 2874 range high projection.
Scenario 2: IF price holds offer below 2858, THEN downside targets test of 2854.75 CD1 Low. IF violated and converted, THEN further downside targets 2850 – 2847 zone.
Range Projections and Key Levels (ES) September (U) Contract
HOD ATR Range Projection: 2874.50; LOD ATR Range Projection: 2846.75; Cycle Day 1 Low: 2854.75; 3 Day Central Pivot: 2860.00; 3 Day Cycle Target: 2881.50; 10 Day Average True Range 18.25; VIX: 12.02
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Markets rallied during AM Session, then sold off during PM Session, ultimately settling near Midpoint. Key support 3D Pivot Zone 7413.50 – 7217.50 continues to hold as overnight trade has pushed higher to 7445.00 which is key conversion level.
CD2 Range High = 7512.00 CD2 Range Low = 7398.50 CD2 Range Avg = 89.50
Scenario 1: IF price holds bid above 7425, THEN upside targets 7445 – 7465 zone.
Scenario 2: IF price holds offer below 7425, THEN downside targets 7417.50 – 7413.50 3 Day Central Pivot Zone with test of 7411.25 Cycle Day 1 Low.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7494.00; LOD ATR Range Projection: 7378.00; Cycle Day 1 Low: 7411.25; 3 Day Central Pivot: 7415.50; 3 Day Cycle Target: 7474.50; 10 Day Average True Range: 72.50; VIX: 12.02
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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
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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