Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 Initial Jobless Claims
8:30 Producer Price Index
10:30 EIA Natural Gas Inventory
1:00 PM Results of $22B, 30-Year Note Auction
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 3 (CD3): Price pushed upwards fulfilling CD3 Penetration Levels before reversing direction testing ONL (4696). Remainder of the session unfolded as a wide variation range with arrhythmia (read choppy). Price settled mid-POC. Range was 44 handles on 1.530M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Today begins a new cycle, with the Average Decline measuring 4670. Price is currently trading within prior value zone (4725 – 4708) during overnight activity. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4710, initially targets 4725 – 4730 zone.
2.) Price sustains an offer below 4710, initially targets 4700 – 4695 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4725 PVA Low Edge = 4708 Prior POC = 4718
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4761; LOD ATR Range Projection: 4664; 3 Day Central Pivot: 4678; 3 Day Cycle Target: 4750; 10 Day Average True Range; 58; VIX: 18
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline projection is 15641 for this cycle day. Price is trading within prior value area (15945 – 15848) during overnight activity. Prior range was 247 handles on 667k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15945 PVA Low Edge = 15848 Prior POC = 15902
Bull Scenario: IF Bulls sustain a bid above 15902, THEN initial upside estimate targets 15930 – 15945 zone.
Bear Scenario: IF Bears sustain an offer below 15902, THEN initial downside estimate targets 15883– 15853 zone.
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 16144; LOD ATR Range Projection: 16000; 3 Day Central Pivot: 15674; 3 Day Cycle Target: 16214; 10 Day Average True Range: 324; VIX: 18
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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