Trade Strategy 9.24.18

Markets
 
In Asia, Japan Closed. Hong Kong -1.62%. China Closed. India -1.58%
In Europe, at midday, London -0.22%. Paris -0.21%. Frankfurt -0.32%
Futures at 6:20, Dow -0.13%. S&P -0.15%. Nasdaq -0.34%. Crude +1.8%to $72.06. Gold +0.17% to $1,203.30. Bitcoin -2.43% to $6,602. 
Ten-year Treasury Yield 1.5bps to 3.083%
 
(Source: Seeking Alpha)
 
Economic Calendar

http://mam.econoday.com/

8:30 Chicago Fed National Activity Index
10:30 Dallas Fed Manufacturing Survey
1:00 PM Results of $37B, 2-Year Note Auction

S&P 500

Today is Cycle Day 2 (CD2)…Quiet overnight as both Nikkei and Shanghai were closed for bank holiday. Here in the US of A price is softer as recent tariffs imposed on China take effect. Attention will now focus on FOMC mid-week announcement and presser.

Price is currently sitting within 3 Day Central Pivot Zone (2928.75 – 2926.25) which is marked as initial support. Hold and recover targets 2934.50 – 2939.50 pivot zone. Violation calls for deeper pullback 2916 – 2912 zone.

CD2 Range High = 2943.00          CD2 Range Low = 2910.50         CD2 Range Avg = 19.75

Scenario 1: IF price holds bid above 2927.50, THEN upside targets 2937.50 – 2939.50 zone.

Scenario 2: IF price holds offer below 2827.50, THEN downside targets 2916 – 2912 zone.

Range Projections and Key Levels (ES) December (Z) Contract

HOD  ATR Range Projection: 2941.00; LOD ATR Range Projection: 2912.50; Cycle Day 1 Low: 2932.00; 3 Day Central Pivot: 2927.50; 3 Day Cycle Target: 2963.50; 10 Day Average True Range 18.00; VIX: 12.35

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Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Quiet overnight as both Nikkei and Shanghai were closed for bank holiday. Here in the US of A price is softer as recent tariffs imposed on China take effect. Attention will now focus on FOMC mid-week announcement and presser.

Price is current sitting at High Volume Node (HVN) support (7507). Bulls will need to hold and recover 7540 to stem further weakness.

CD2 Range High = 7596.00         CD2 Range Low = 7451.00          CD2 Range Avg = 84.00

Scenario 1: IF price holds bid above 7507, THEN upside targets 7535 – 7540 zone. Conversion above measures 7555.50 – 7562.50 3 Day Central Pivot Zone.

Scenario 2: IF price holds offer below 7507, THEN downside targets 7488 – 7470 zone. Conversion below measures deeper 7456 – 7439  STAT-X Zone.

Range Projections and Key Levels (NQ) December (Z) Contract

HOD  ATR Range Projection: 7596.00; LOD ATR Range Projection: 7451.50; Cycle Day 1 Low: 7447.50; 3 Day Central Pivot: 7558.00; 3 Day Cycle Target: 7611.00; 10 Day Average True Range: 89.00; VIX: 12.35

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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.

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


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