Markets
Source: SeekingAlpha.com
Economic Calendar
10:00 Factory Orders
12:30 PM Investor Movement Index
1https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 3 (CD3): Price could not recover the CD1 Low, so this will be marked as a “failed-cycle”. Prior range was 54 handles on 1.316M 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 4524 which was fulfilled during the previous session. Pre-RTH activity has price trading slightly higher to 4545 handle, but still within previous day’s range.. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4535, initially targets 4550 – 4555 zone.
Bear Scenario: Price sustains an offer below 4535, initially targets 4520 – 4515 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4543 PVA Low Edge = 4518 Prior POC = 4530
Range Projections and Key Levels (ES) June 2022 (M) Contract
HOD ATR Range Projection: 4593; LOD ATR Range Projection: 4486; 3 Day Central Pivot: 4565; 3 Day Cycle Target: 4565; 10 Day Average True Range; 65; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline for CD1 measures 14866 for this cycle day. Prior range was 235 handles on 517k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustain a bid above 14850, THEN initial upside estimate targets 14935 – 14960 zone.
Bear Scenario: IF Bears sustain an offer below 14850, THEN initial downside estimate targets 14820– 14800 zone.
PVA High Edge = 14871 PVA Low Edge = 14739 Prior POC = 14759
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 15099; LOD ATR Range Projection: 14640; 3 Day Central Pivot: 14986; 3 Day Cycle Target: 15372; 10 Day Average True Range: 298; VIX: 20
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