In Asia, Japan -0.4%. Hong Kong -1.3%. China -1%. India -1.2%.
In Europe, at midday, London -1%. Paris -1.6%. Frankfurt -1.3%.
Futures at 6:20, Dow -0.4%. S&P -0.4%. Nasdaq -0.6%. Crude -1.3% to $56.56. Gold -0.2% to $1538.10. Bitcoin -14.2% to $8351.
Ten-year Treasury Yield flat at 1.64%
(Source: Seeking Alpha) https://seekingalpha.com/
10:00New Home Sales
10:00State Street Investor Confidence Index
10:00Fed’s George “Facilitating Faster Payments in the U.S”
10:30EIA Petroleum Inventories
11:00Survey of Business Uncertainty
11:30Results of $18B, 2-Year FRN Auction
1:00 PMResults of $41B, 5-Year Note Auction
*****New PTG Trading Room Chat Log’s Link
Today is Cycle Day 3 …Price broke down through CD1 Low (2982) and fulfilled CD2 Violation Levels in prior session. Being below CD1 low, cycle odds (90%) favor recovering back above by close on CD3. We’ll get a chance to see today if that cycle statistic holds or folds.
CD3 Range High = 2980.50 CD3 Range Low = 2955.00 CD3 Range Avg = 24.00
Scenario 1: IF Bulls hold bid above 2972, THEN initial upside targets 2982 – 2988 zone.
Scenario 2: IF Bears hold offer below 2972, THEN initial downside targets 2955 – 2943 zone.
Range Projections and Key Levels (ES) December (Z) Contract
HOD ATR Range Projection: 2984.50; LOD ATR Range Projection: 2951.00; Cycle Day 1 Low: 2982.00; 3 Day Central Pivot: 2992.00; 3 Day Cycle Target: 3010.00; 10 Day Average True Range 28.10; VIX: 17.50
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price needs to recover back above CD1 Low (7807.75) by EOD otherwise it will be a “failed cycle”. Initial hurdle is to recapture prior close then clear and convert 7760 handle.
CD3 Range High = 7742.50 CD3 Range Low = 7700.00 CD3 Range Avg = 133.00
Scenario 1: IF Bulls hold bid above 7737, THEN initial upside potential targets 7760 – 7786 zone..
Scenario 2: IF Bears hold offer below 7737, THEN initial downside targets 7700 – 7671 zone..
Range Projections and Key Levels (NQ) September (U) Contract
HOD ATR Range Projection: 7787.00; LOD ATR Range Projection: 7655.75; Cycle Day 1 Low: 7807.75; 3 Day Central Pivot: 7835.00; 3 Day Cycle Target: 7879.00; 10 Day Average True Range: 103.50; VIX: 17.50
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.
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