In Europe, at midday, London +1%. Paris +0.8%. Frankfurt +0.7%.
Futures at 6:20, Dow +0.3%. S&P +0.2%. Nasdaq +0.3%. Crude +0.6% to $70.74. Gold -0.1% to $1209.60. Bitcoin +3.1% to $6693.
Ten-year Treasury Yield flat at 3.08%
9:45 PMI Composite Flash
1:00 PM Baker-Hughes Rig Count
S&P 500
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2920. Average Range for CD1 is 23.50 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 42%
CD1 Range High = 2961.00 CD1 Range Low = 2922.00 CD1 Range Avg = 23.50
Scenario 1: IF price holds bid above 2936, THEN upside targets 2946 – 2948.50 zone.
Scenario 2: IF price holds offer below 2936, THEN downside targets 2931, followed by 2926 – 2922.50 zone.
Range Projections and Key Levels (ES) September (U) Contract
HOD ATR Range Projection: 2956.00; LOD ATR Range Projection: 2927.00; 3 Day Central Pivot: 2916.75; 3 Day Cycle Target: 2964.50; 10 Day Average True Range 18.50; VIX: 12.00
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7526.00. Average Range for CD1 is 92.25 handles. Odds of decline > 20 handles = 73% Odds of decline > 25 = 64%
CD1 Range High = 7650.00 CD1 Range Low = 7645.25 CD1 Range Avg = 92.25
Scenario 1: IF price holds bid above 7600, THEN upside targets 7632.75 – 7644.75 zone.
Scenario 2: IF price holds offer below 7600, THEN downside targets 7586.50 – 7581.25 zone, followed by 7565.50.
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7689.50; LOD ATR Range Projection: 7547.50; 3 Day Central Pivot: 7534.00; 3 Day Cycle Target: 7718.25; 10 Day Average True Range: 90.00; VIX: 12.00
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