Markets
U.S. stock index futures are starting the year with some more champagne as contracts linked to the Dow and S&P 500 rose 0.6% overnight, while the Nasdaq climbed 0.7%.
Source: SeekingAlpha.com
Economic Calendar
9:45 PMI Manufacturing Index
10:00 Construction Spending
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 1 (CD1): Price did produce a decline to finish out 2021. Range was 28 handles on 806k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is starting off 2022 with a rally overnight, pushing past prior high (4778.50) and fulfilling CD2 Penetration Level (4789.50). As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4780, initially targets 4790 – 4795 zone.
2.) Price sustains an offer below 4780, initially targets 4770 – 4762 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4774 PVA Low Edge = 4762 Prior POC = 4768
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4827; LOD ATR Range Projection: 4734; 3 Day Central Pivot: 4775; 3 Day Cycle Target: 4790; 10 Day Average True Range 56; VIX: 17
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is starting off the new year with a rally tagging the 3 Day Central Pivot Zone between 16438 – 16452. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 16138 PVA Low Edge = 15978 Prior POC = 16114
Bull Scenario: IF Bulls sustain a bid above 16420, THEN initial upside estimate targets 16438 – 16452 zone.
Bear Scenario: IF Bears sustain an offer below 16420, THEN initial downside estimate targets 16405 – 16385 zone.
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 16609; LOD ATR Range Projection: 16199; 3 Day Central Pivot: 16438; 3 Day Cycle Target: 16498; 10 Day Average True Range: 253; VIX: 17
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.”
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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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