8:30 Chicago Fed National Activity Index
9:45 PMI Composite Flash
1:00 PM Results of $54B, 2-Year Note Auction
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Prior Session was Cycle Day 1 (CD1): Long Liquidation hit the markets on Friday as “risk-off” sentiment accelerated selling throughout the session. Cycle low was established at 4381.25. Range was 102 handles on 2.787M, contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): GLOBEX opening bid has faded as selling is spilling over into this session. Normal for CD2 would be to stabilize prior session’s selling-spree. Price is currently trading below CD1 Low (4381) fulfilling lower Violation Level (4362). Recovery back above CD1 Low is required to begin the stabilization process. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4381, initially targets 4395 – 4400 zone.
2.) Price sustains an offer below 4381, initially targets 4362 – 4352 zone.
PVA High Edge = 4473 PVA Low Edge = 4427 Prior POC = 4448
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4451; LOD ATR Range Projection: 4338; 3 Day Central Pivot: 4488; 3 Day Cycle Target: 4434; 10 Day Average True Range 90; VIX: 31
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Tech Wreck has continued to spill over into today’s session as price is currently trading below CD1 Low (14408) fulfilling lower Violation Statistical Extreme Zone (14317 – 14278) during overnight activity. Price will need to recover CD1 Low to begin the stabilization process. Prior range was 444 handles on 1.003M contracts traded. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 14785 PVA Low Edge = 14606 Prior POC = 14715
Bull Scenario: IF Bulls sustain a bid above 14408, THEN initial upside estimate targets 14480 – 14535 zone.
Bear Scenario: IF Bears sustain an offer below 14408, THEN initial downside estimate targets 14317 – 14277 zone.
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 14710; LOD ATR Range Projection: 14153; 3 Day Central Pivot: 14869; 3 Day Cycle Target: 14535; 10 Day Average True Range: 428; VIX: 31
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.
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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