The July employment report arrives today at 8:30 a.m. ET, with economists, on average, looking for nonfarm payrolls to rise by 870K, compared with 850K in June. The jobless rate is seen dropping to 5.7% from 5.9%.
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Prior session was Cycle Day 1 (CD1): CD1 Low was established “first” during the prior Globex session. When this occurs, probabilities favor a rally throughout the full session, typically closing near highs of day. With trade volumes tracking their lightest in months (only 748k yesterday), “thin-to-win” is unstoppable, as price notched yet another all-time high…BIG YAWN! Range was 29 handles on 748k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is currently trading near highs pre-RTH with light volume as traders await the non-farm payrolls report. Expectation for CD2 normally is for some ‘back n fill’ price action with a bullish bias. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4423, initially targets 4428 – 4432 zone.
2.) Price sustains an offer below 4423, initially targets 4416 – 4408 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4415 PVA Low Edge = 4404 Prior POC = 4412
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 prior value zone, consolidating recent activity. Prior range was 103 handles on 336k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15172 PVA Low Edge = 15118 Prior POC = 15148
Bull Scenario: IF Bulls sustain a bid above 15140, THEN initial upside estimate targets 15173 – 15183 zone.
Bear Scenario: IF Bears sustain an offer below 15140, THEN initial downside estimate targets 15120 – 15110 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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