Markets (Top Stories)
Economic Calendar
10:00 Wholesale Inventories (Preliminary)
12:30 PM Investor Movement Index
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Short holiday trade ended with a Positive 3-Day Cycle. Prior range was 38 handles on 1.259M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Though today is technically CD2, because of the holiday, anticipation is for trade action more similar to CD1 with an average decline measuring 4102 handle. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4130, initially targets 4145 – 4150 zone.
Bear Scenario: Price sustains an offer below 4130, initially targets 4115 – 4110 zone.
PVA High Edge = 4137 PVA Low Edge = 4121 Prior POC 4129
Range Projections and Key Levels (ES) June 2023 (M) Contract
HOD ATR Range Projection: 4166; LOD ATR Range Projection: 4099; 3 Day Central Pivot: 4125; 3 Day Cycle Target: 4157; 10 Day Average True Range 67; VIX: 19
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Short holiday trade ended with a Positive 3-Day Cycle. Prior range was 237 handles on 593k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Though today is technically CD2, because of the holiday, anticipation is for trade action more similar to CD1 with an average decline measuring 13082 handle. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13165, THEN initial upside estimate targets 13195– 13200 zone.
Bear Scenario: IF Bears sustains offer below 13165, THEN initial downside estimate targets 13090 – 13080 zone.
PVA High Edge = 13140 PVA Low Edge = 12955 Prior POC = 13028
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 13292; LOD ATR Range Projection: 13004; 3 Day Central Pivot: 13126; 3 Day Cycle Target: 13308; 10 Day Average True Range: 200; VIX: 19
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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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