Markets
Economic Calendar
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S&P 500
Prior Session was Cycle Day 2 (CD2): Markets continued their trek higher, fulfilling and surpassing this cycle’s objectives. Range was 147 handles on 1.987M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Bulls will need to continue the upside push above PH (3914.75) to keep this rally above, otherwise a pullback/decline is mostly likely to unfold. Overnight trade has price pulling-back to initial support (3885). As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 3885, initially targets 3905 – 3910 zone.
Bear Scenario: Price sustains offer below 3885, initially targets 3865 – 3860 zone.
PVA High Edge = 3916 PVA Low Edge = 3843 Prior POC = 3909
Range Projections and Key Levels (ES) December 2022 (Z) Contract
HOD ATR Range Projection: 3966; LOD ATR Range Projection: 3833; 3 Day Central Pivot: 3846; 3 Day Cycle Target: 3860; 10 Day Average True Range 101; VIX: 27
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently pulling-back from prior close to buy support 11488 level. Having fulfilled Cycle objectives, the next decline can begin, although bulls still have ball control. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11488, THEN initial upside estimate targets 11582 – 11626 zone.
Bear Scenario: IF Bears sustains offer below 11488, THEN initial downside estimate targets 11435 – 11383 zone.
PVA High Edge = 11200 PVA Low Edge = 11043 Prior POC = 11089
Range Projections and Key Levels (NQ) December 2022 (Z) Contract
HOD ATR Range Projection: 11623; LOD ATR Range Projection: 11292; 3 Day Central Pivot: 11383; 3 Day Cycle Target: 11295; 10 Day Average True Range: 398; VIX: 27
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