Markets
Source: SeekingAlpha.com
Economic Calendar
10:00 NAHB Housing Market Index
https://www.investing.com/economic-calendar/
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S&P 500
Friday’s Session was Cycle Day 2 (CD2): Sellers dominated this day with “risk-off” anxiety ahead of this week’s FED Meeting. Range was 56.25 handles on 1.726M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Selling pressure has continued into Globex and pre-RTH, currently trading below CD1 Low (4433.25). Potential is high for a “failed” 3 Day Cycle unless price recovery back above CD1 Low. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4350, initially targets 4365 – 4375 zone.
2.) Price sustains an offer below 4350, initially targets 4330 – 4325 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4390 PVA Low Edge = 4358 Prior POC = 4364
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4391; LOD ATR Range Projection: 4352; 3 Day Central Pivot: 4452; 3 Day Cycle Target: 4467; 10 Day Average True Range 42; VIX: 26
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Sellers continue to dominate the trading landscape, spilling over from prior session. Prior range was 252 handles on 606k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15376 PVA Low Edge = 15276 Prior POC = 15316
Bull Scenario: IF Bulls sustain a bid above 15150, THEN initial upside estimate targets 15180 – 15190 zone.
Bear Scenario: IF Bears sustain an offer below 15150, THEN initial downside estimate targets 15125 – 15100 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 15252; LOD ATR Range Projection: 15172; 3 Day Central Pivot: 15427; 3 Day Cycle Target: 15462; 10 Day Average True Range: 166; VIX: 26
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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