After squeaking out another round of record closes on Thursday, U.S. stock index futures are ahead by 0.2%, before a jobs report that many are seeing as the next catalyst for the market.
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Prior Session was Cycle Day 3 (CD3): Price fulfilled 3 Day Cycle Statistic.Prior Range was 28 handles on 981k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4516. Price is once again sitting at all-time high pre-RTH as pre-holiday trade has kicked into gear. Volumes are anticipated to be light with upside bid bias unchallenged. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4544, initially targets 4554 – 4561 zone.
2.) Price sustains an offer below 4544, initially targets 4534 – 4528 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4541 PVA Low Edge = 4529 Prior POC = 4539
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline for CD1 measures 15555. Prior Range was 130 handles on 458k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15642 PVA Low Edge = 15572 Prior POC = 15598
Bull Scenario: IF Bulls sustain a bid above 15620, THEN initial upside estimate targets 15644 – 15664 zone.
Bear Scenario: IF Bears sustain an offer below 15620, THEN initial downside estimate targets 15598 – 15582 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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