Markets
Economic Calendar
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
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S&P 500
Prior session was Cycle Day 1 (CD1): Textbook CD1 unfolded, as price fulfilled Average Decline (4446) rallying back to 4475 target, in what we refer to as a “range-runner” day. Range was 45 handles on 1.355M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is for some ‘back n fill’ price to absorb recent activity. Overnight price stalled at P-POC (4470) and is currently trading near 3 Day Central Pivot (4455). Note: QUAD Options Expiration today. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4455, initially targets 4470 – 4475 zone.
2.) Price sustains an offer below 4455, initially targets 4440 – 4435 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4476 PVA Low Edge = 4449 Prior POC = 4454
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4487; LOD ATR Range Projection: 4434; 3 Day Central Pivot: 4455; 3 Day Cycle Target: 4479; 10 Day Average True Range 39; VIX: 19
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is currently trading back within prior value during overnight activity following yesterday’s wide range-day. Prior range was 174 handles on 451k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15518 PVA Low Edge = 15405 Prior POC = 15507
Bull Scenario: IF Bulls sustain a bid above 15458, THEN initial upside estimate targets 15518 – 15530 zone.
Bear Scenario: IF Bears sustain an offer below 15458, THEN initial downside estimate targets 15422 – 15405 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 15612; LOD ATR Range Projection: 15375; 3 Day Central Pivot: 15442; 3 Day Cycle Target: 15531; 10 Day Average True Range: 153; 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
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