Markets
Source: SeekingAlpha.com
Economic Calendar
2:00 PM Treasury Statement
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 3 (CD3): Sellers dominated this past week’s trade, capped with $4.2 Billion Market on Close Sell Imbalance. Price fulfilled CD3 Violation Objective (4448). Range was 62 handles on 1.003M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline is in-place (4477), but price has rallied back to 4475, 5-day POC. Projected CD1 range rally is also in-place (4475) during overnight activity. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4475, initially targets 4487 – 4492 zone.
2.) Price sustains an offer below 4475, initially targets 4460 – 4447 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4492 PVA Low Edge = 4460 Prior POC = 4475
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4475; LOD ATR Range Projection: 4448; 3 Day Central Pivot: 4487; 3 Day Cycle Target: 4481; 10 Day Average True Range 28; VIX: 19
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price has rebounded during overnight activity, partially erasing prior session’s decline. Prior range was 234 handles on 310k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15628 PVA Low Edge = 15523 Prior POC = 15569
Bull Scenario: IF Bulls sustain a bid above 15520, THEN initial upside estimate targets 15564 – 15584 zone.
Bear Scenario: IF Bears sustain an offer below 15520, THEN initial downside estimate targets 15480 – 15450 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 15533; LOD ATR Range Projection: 15392; 3 Day Central Pivot: 15564; 3 Day Cycle Target: 15579; 10 Day Average True Range: 127; VIX: 19
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!
Good Trading…David
“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
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