Markets (Top Stories)
“May the sun shine warm upon your face; the rains fall soft upon your fields and until we meet again, may God hold you in the palm of His hand.”Economic Calendar
10:00 Consumer Sentiment
10:00 Leading Indicators
1:00 PM Baker-Hughes Rig Count
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): Three Day Cycle Objectives were well exceeded as “bank-bailouts” sparked sharp rally, pushing to 4000 Strike. Prior day’s range was 105 handles on 2.254M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 3941. Options Expiration (OPEX) is the “main theme” for today’s session. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3995, initially targets 4015 – 4020 zone.
Bear Scenario: Price sustains an offer below 3995, initially targets 3975 – 3970 zone.
PVA High Edge = 3999 PVA Low Edge = 3930 Prior POC = 3993
Range Projections and Key Levels (ES) June 2023 (M) Contract
HOD ATR Range Projection: 4065; LOD ATR Range Projection: 3992; 3 Day Central Pivot: 3940; 3 Day Cycle Target: 4059; 10 Day Average True Range 86; VIX: 23
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Three Day Cycle Objectives were well exceeded as “bank-bailouts” sparked sharp rally. Prior day’s range was 421 handles on 695k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 12504. Options Expiration (OPEX) is the “main theme” for today’s session. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 12708, initially targets 12790 – 12800 zone.
Bear Scenario: Price sustains an offer below 12708, initially targets 12630 – 12620 zone.
PVA High Edge = 12732 PVA Low Edge = 12427 Prior POC = 12663
Range Projections and Key Levels (NQ) June 2023 (M) Contract
HOD ATR Range Projection: 13000; LOD ATR Range Projection: 12459; 3 Day Central Pivot: 12376; 3 Day Cycle Target: 13085; 10 Day Average True Range: 308; VIX: 23
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