8:30 Housing Starts and Permits
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
1:15 PM Fed’s Brainard Speech
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined establishing a Cycle Low at 3943.75. Prior range was 90 handles on 1.835M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Downside momentum is continuing to spill over into today’s trade as price is currently below PL (3943.75) at TargetMaster Breakout Target Level 1 (3915). As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3940, initially targets 3950 – 3955 zone.
Bear Scenario: Price sustains an offer below 3940, initially targets 3915 – 3905 zone.
PVA High Edge = 4013 PVA Low Edge = 3944 Prior POC = 3945
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 3980; LOD ATR Range Projection: 3882; 3 Day Central Pivot: 4000; 3 Day Cycle Target: 4003; 10 Day Average True Range 63; VIX: 21
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined establishing a Low at 11468. Prior range was 241 handles on 689k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
Today is Cycle Day 2 (CD2)…Normal for CD2 is for consolidation of recent trading range activity. Downside momentum is continuing to spill over into today’s trade as price is currently below PL (3943.75) at TargetMaster Breakout Target Level 1 (11361). As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11460, THEN initial upside estimate targets 11520– 11540 zone.
Bear Scenario: IF Bears sustains offer below 11460, THEN initial downside estimate targets 11370 – 11350 zone.
PVA High Edge = 11662 PVA Low Edge = 11471 Prior POC = 11525
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 11622; LOD ATR Range Projection: 11232; 3 Day Central Pivot: 11584; 3 Day Cycle Target: 11709; 10 Day Average True Range: 255; VIX: 21
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!
“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.
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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