Markets
Source: SeekingAlpha.com
Economic Calendar
8:55 Redbook Chain Store Sales
10:00 ISM Manufacturing Index
10:00 Job Openings and Labor Turnover Survey
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 2 (CD2): Normal CD2 unfolded as price consolidated, successfully testing the CD1 Low (4750) for surety, at which time this cycle’s rally began. Range was 44 handles on 1.274M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is extending this cycle’s rally, pushing above prior high, fulfilling CD2 Penetration Level (4802). Further upside targets 4810 – 4815 zone. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4790, initially targets 4802 – 4810 zone.
2.) Price sustains an offer below 4790, initially targets 4780 – 4775 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4787 PVA Low Edge = 4766 Prior POC = 4782
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4833; LOD ATR Range Projection: 4754; 3 Day Central Pivot: 4772; 3 Day Cycle Target: 4830; 10 Day Average True Range 53; VIX: 16.50
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is pushing above prior high (16508) fulfilling CD3 Penetration Level (16543). Additional upside targets measure 16615 – 16700 should bulls continue to rally RTH. Prior range was 216 handles on 504k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 16465 PVA Low Edge = 16372 Prior POC = 16405
Bull Scenario: IF Bulls sustain a bid above 16508, THEN initial upside estimate targets 16543 – 16565 zone.
Bear Scenario: IF Bears sustain an offer below 16508, THEN initial downside estimate targets 16475 – 16465 zone.
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 16721; LOD ATR Range Projection: 16320; 3 Day Central Pivot: 16423; 3 Day Cycle Target: 16700; 10 Day Average True Range: 244; VIX: 16.50
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