Dow and S&P 500 futures are ahead by 0.4%, while contracts linked to the Nasdaq pointed 0.2% higher.
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Prior session was Cycle Day 1 (CD1): Price struggled early to find a direction, but once it was found (down), price fulfilled CD1 Average Decline (4377.25). Range was 42 handles on 1.162M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is currently trading within prior value, which is within a larger 5 day range with edges at 4370 – 4420. Expectation for CD2 normally is for some ‘back n fill’ price action. Bulls and Bears appear to be more balanced between 5-day value zone (4378 – 4398), As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4395, initially targets 4405 – 4415 zone.
2.) Price sustains an offer below 4395, initially targets 4375 – 4380 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4420 PVA Low Edge = 4390 Prior POC = 4407
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is currently trading within the 2-day value zone, consolidating recent activity. Prior range was 124 handles on 442k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15042 PVA Low Edge = 14981 Prior POC = 14993
Bull Scenario: IF Bulls sustain a bid above 14980, THEN initial upside estimate targets 15010 – 15018 zone.
Bear Scenario: IF Bears sustain an offer below 14980, THEN initial downside estimate targets 14945 – 14935 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