Markets
Economic Calendar
8:30 Housing Starts and Permits
9:15 Industrial Production
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S&P 500
Prior Session was Cycle Day 2 (CD2): As expected for CD2, bullish consolidation unfolded early, holding above Open Range High. Once P-High was cleared, trend extension up drew a test of key 4300 (strike). Range was 56 handles on 1.275M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): There is some additional upside to fulfill 3D target (4322), though failure to convert P-High (4304.75) may open door for next decline. Key Strike (4300) is “sticky” heading into OPEX. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 4285, initially targets 4300 – 4305 zone.
Bear Scenario: Price sustains offer below 4285, initially targets 4275 – 4270 zone.
PVA High Edge = 4303 PVA Low Edge = 4272 Prior POC = 4299
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
HOD ATR Range Projection: 4348; LOD ATR Range Projection: 4236; 3 Day Central Pivot: 4256; 3 Day Cycle Target: 4322; 10 Day Average True Range 64; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Early consolidation lead to trend-up continuation, fulfilling CD2 Penetration Levels. There is additional upside room to fulfill cycle target (13772), though failure to convert P-High may usher in next decline. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13626, THEN initial upside estimate targets 13675 – 13705 zone.
Bear Scenario: IF Bears sustains offer below 13626, THEN initial downside estimate targets 13606 – 13583 zone.
PVA High Edge = 13705 PVA Low Edge = 13568 Prior POC = 13654
Range Projections and Key Levels (NQ) Sept 2022 (U) Contract
HOD ATR Range Projection: 13923; LOD ATR Range Projection: 13391; 3 Day Central Pivot: 13507; 3 Day Cycle Target: 13772; 10 Day Average True Range: 296; 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 SHOWN6.22.22