Markets
Source: SeekingAlpha.com
Economic Calendar
9:45 PMI Composite Flash
11:00 Jerome Powell Speech
1:00 PM Baker-Hughes Rig Count
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 2 (CD2): This session unfolded as a normal balancing day. Range was 33 handles on 912K contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Buyers remained active during overnight activity above prior close and has pushed price above prior high. 3 Day Cycle objective (4538) has been fulfilled, so bulls will need to keep bid above prior high (4543) to expand the rally. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4543, initially targets 4555 – 4558 zone.
2.) Price sustains an offer below 4543, initially targets 4534 – 4532 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4532 PVA Low Edge = 4518 Prior POC = 4526
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4572; LOD ATR Range Projection: 4508; 3 Day Central Pivot: 4517; 3 Day Cycle Target: 4538; 10 Day Average True Range 40; VIX: 15
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price held support at the Central Pivot Zone (15385 – 15393) during overnight activity with a firm bid heading into the RTH session. Prior range was 183 handles on 433k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15445 PVA Low Edge = 15350 Prior POC = 15433
Bull Scenario: IF Bulls sustain a bid above 15445, THEN initial upside estimate targets 15485 – 15500 zone.
Bear Scenario: IF Bears sustain an offer below 15445, THEN initial downside estimate targets 15420 – 15400 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 15538; LOD ATR Range Projection: 15292; 3 Day Central Pivot: 13752; 3 Day Cycle Target: 15422; 10 Day Average True Range: 168; VIX: 15
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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