Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 GDP Q3
8:30 Initial Jobless Claims
8:30 Chicago Fed National Activity Index
8:30 Corporate profits
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
4:30 PM Fed Balance Sheet
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 1 (CD1): Following four straight declines, markets staged a “relief-rally” back to the 3900 strike zone. Prior range was 63 handles on 1.465M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for Cycle Day 2 is for some consolidation of prior session’s activity. Price is currently trading within prior value zone near 3900 handle.With all major events behind, we anticipate relative calm through year-end. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3900 initially targets 3915 – 3920 zone.
Bear Scenario: Price sustains an offer below 3900, initially targets 3875 – 3870 zone.
PVA High Edge = 3918 PVA Low Edge = 3897 Prior POC = 3904
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 3978; LOD ATR Range Projection: 3833; 3 Day Central Pivot: 3864; 3 Day Cycle Target: 3977; 10 Day Average True Range 86; VIX: 20
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined, establishing a new cycle low at 11181. Prior range was 208 handles on 623k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for Cycle Day 2 is for some consolidation of prior session’s activity. Price is currently trading within prior value zone near 11335 handle.With all major events behind, we anticipate relative calm through year-end. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 11335 initially targets 11380 – 11400 zone.
Bear Scenario: Price sustains an offer below 11335, initially targets 11280 – 11260 zone.
PVA High Edge = 11387 PVA Low Edge = 11272 Prior POC = 11335
Range Projections and Key Levels (NQ) March 2023 (H) Contract
HOD ATR Range Projection: 11584; LOD ATR Range Projection: 11086; 3 Day Central Pivot: 11237; 3 Day Cycle Target: 11552; 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