Markets

Source: SeekingAlpha.com

Economic Calendar

8:30 GDP Q1
8:30 Initial Jobless Claims
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
1:00 PM Results of $44B, 7-Year Note Auction
4:30 PM Fed Balance Sheet

https://www.investing.com/economic-calendar/

***New: PTG Trading Room Chat Log’s Link

S&P 500

Prior Session was Cycle Day 2 (CD2): Normal CD2 unfolded as anticipated, albeit with wide swings throughout the session. From open to close, the S&P 500 Index (CASH: SPX) (ETF: SPY) (FUTURE: /ES) ended lower 0.95 (0.02%), within our implied move reading 1.2%….per Gamma-Guys. Range was 87 handles on 1.980M contracts exchanged. 

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Price is closing in on Cycle Target (4259) during overnight trade activity. Cycle Statistic is in-place, likely averting a second “failed-cycle”. We’ll mark today as a “wild-card” for direction with price still consolidating/balancing. As such, estimated scenarios to consider for today’s trading.

Bull Scenario: Price sustains bid above 4250, initially targets 4265 – 4270 zone. 

Bear Scenario: Price sustains offer below 4250, initially targets 4240 – 4235 zone.

PVA High Edge = 4213       PVA Low Edge = 4175        Prior POC = 4189

Range Projections and Key Levels (ES) June 2022 (M) Contract

HOD  ATR Range Projection: 4296; LOD ATR Range Projection: 4162; 3 Day Central Pivot: 4250; 3 Day Cycle Target: 4259; 10 Day Average True Range  96; VIX: 29

Nasdaq 100 (NQ)

Today is Cycle Day 3 (CD3)…Price is closing in on Cycle Target (13364) during overnight activity. Cycle Statistic is in-place, so we’ll mark today as a “wild-card” for direction with bulls/bears battling for control. As such, there are two estimated scenarios to consider for today’s trading.

Bull Scenario: IF Bulls sustains bid above 13316, THEN initial upside estimate targets 13347 – 13387 zone.

Bear Scenario: IF Bears sustains offer below 13316, THEN initial downside estimate targets 13265 – 13243 zone.

PVA High Edge = 13159       PVA Low Edge = 13011     Prior POC = 13111

Range Projections and Key Levels (NQ) June 2022 (M) Contract

HOD  ATR Range Projection: 13575; LOD ATR Range Projection: 12905; 3 Day Central Pivot: 13196; 3 Day Cycle Target: 13364; 10 Day Average True Range: 442; VIX: 29

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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