In Europe, at midday, London -0.7%. Paris -0.2%. Frankfurt +0.2%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude flat at $66.93. Gold +0.1% to $1222.60. Bitcoin +1.1% to $6346.
Ten-year Treasury Yield flat at 2.96%
8:30 Initial Jobless Claims
8:30 Producer Price Index
9:30 Fed’s Evans: Economic Conditions and Monetary Policy
10:00 Wholesale Trade
10:30 EIA Natural Gas Inventory
1:00 PM Results of $18B, 30-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Today is Cycle Day 3 (CD3)…Price continues to trade range-bound between 2853 – 2863 in low volatility summer “slack-tion”. More of same is expected unless those parameters are overcome.
Market Bias: Bullish
CD3 Range High = 2878.50 CD3 Range Low = 2837.00 CD3 Range Avg = 25.50
Scenario 1: IF price clears and converts 2863, THEN upside targets 2870 – 73 zone.
Scenario 2: IF price violates and converts 2853, THEN downside targets 2843 – 40 zone.
Range Projections and Key Levels (ES) September (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price continues to trade range-bound between 7493 – 7453 in low volatility summer “slack-tion”. More of same is expected unless those parameters are overcome.
Market Bias: Bullish
CD3 Range High = 7510.75 CD3 Range Low = 7434.25 CD3 Range Avg = 98.00
Scenario 1: IF price clears and converts 7493, THEN upside targets 7510.75 – 7520.00 zone.
Scenario 2: IF price violates and converts 7453, THEN downside targets 7434.25 – 7415.50 zone.
Range Projections and Key Levels (NQ) September (U) Contract
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.
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.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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