The first trading day of August is opening with renewed excitement as U.S. stock index futures begin the month ahead by 0.6%. The major averages already managed to log their sixth month of gains in July, though volatility increased over worries about the rapidly spreading Delta variant.
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Prior Session was Cycle Day 3 (CD3): Price fulfilled 3 Day Cycle Statistic for the final trading day of July holding above 4370 “key support”. Prior Range was 34 handles on 1.247M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4376. Price is extending gains to the CD1 Penetration Level (4416) during overnight activity. Volatility Index (VIX) is at 18 historical norm level. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4405, initially targets 4416 – 4422 zone.
2.) Price sustains an offer below 4405, initially targets 4395 – 4390 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4395 PVA Low Edge = 4385 Prior POC = 4387
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is extending higher to CD1 Penetration Level (15010) during overnight activity. Average Decline for CD1 measures 14900. Prior Range was 169 handles on 486k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 14923 PVA Low Edge = 14870 Prior POC = 14916
Bull Scenario: IF Bulls sustain a bid above 14980, THEN initial upside estimate targets 15010 – 15064 zone.
Bear Scenario: IF Bears sustain an offer below 14980, THEN initial downside estimate targets 14940 – 14930 zone.
Range Projections and Key Levels (NQ) Sept 2021 (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.
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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