Wall Street is pointing to positive territory for the session ahead, with Dow and S&P 500 futures up 0.8% and the Nasdaq ahead by 1%, following the worst trading day of 2019.
In Asia, Japan -0.7%. Hong Kong -0.7%. China -1.6%. India +0.8%.
In Europe, at midday, London +0.1%. Paris +0.9%. Frankfurt +0.6%.
Futures at 6:20, Dow +0.8%. S&P +0.8%. Nasdaq +1%. Crude +0.6% to $55.01. Gold flat at $1476.30. Bitcoin +4.6% to $12246.
Ten-year Treasury Yield +1 bps to 1.75%
(Source: Seeking Alpha) https://seekingalpha.com/
Economic Calendar https://www.investing.com/economic-calendar/
Today is Cycle Day 3 …Price is rebounding higher during overnight trade following a +3% decline in prior session. Potential is elevated for a failed cycle unless Bulls can recover CD1 Low (2913.50).
***High Surf Warning remains in-effect as price swings are expected to be “spurty” (technical-term)!
CD3 Range High = 2837.00 CD3 Range Low = 2800.00 CD3 Range Avg = 30.50
Scenario 1: IF Bulls hold bid above 2840, THEN initial upside targets 2850 – 2860 zone.
Scenario 2: IF Bears hold offer below 2840, THEN initial downside targets 2825 – 2820 zone.
Range Projections and Key Levels (ES) September (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price is rebounding higher during overnight trade following a +3% decline in prior session. Potential is elevated for a failed cycle unless Bulls can recover CD1 Low (7650.25).
CD3 Range High = 7828.00 CD3 Range Low = 7282.00 CD3 Range Avg = 114.25
Scenario 1: IF Bulls hold bid above 7420, THEN initial upside potential targets 7478 – 7500 zone..
Scenario 2: IF Bears hold offer below 7420, THEN initial downside targets 7368 – 7338 zone.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7442.00; LOD ATR Range Projection: 7268.00; Cycle Day 1 Low: 7650.25; 3 Day Central Pivot: 7686.00; 3 Day Cycle Target: 7790.00; 10 Day Average True Range: 171.00; VIX: 21.78
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
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