Get ready for earnings season Financial earnings will dominate the current week as the sector tries to break out of the malaise that made it an underperformer throughout the summer’s recovery rally.
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Prior Session was Cycle Day 2 (CD2): Price continued this cycle’s rally unchallenged by “da bears”, closing near highs of session. Range was 28.75 handles on 1.092M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price has easily surpassed this cycle’s price objectives and is currently extending gains, approaching 3494 CD3 Penetration Target. As such, there are two scenarios to consider for today’s trading.
1.) Price sustains a bid above 3486, initially targeting 3495 – 3500 zone.
2.) Price sustains an offer below 3486, initially targeting 3475 – 3470 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3472 PVA Low Edge = 3456 Prior POC = 3465
Range Projections and Key Levels (ES) December 2020 (Z) Contract
Nasdaq 100 (NQ)
PVA High Edge = 11498 PVA Low Edge = 10370 Prior POC = 11445
Bull Scenario: IF Bulls sustain a bid above 11850, THEN initial upside estimate targets 11900 – 11925 zone.
Bear Scenario: IF Bears sustain an offer below 11850, THEN initial downside estimate targets 11800 – 11750 zone.
Range Projections and Key Levels (NQ) December 2020 (Z) Contract
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