Markets
Source: SeekingAlpha.com
Economic Calendar
9:15 Industrial Production
10:00 NAHB Housing Market Index
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 1 (CD1): Shallow decline during globex lead to RTH gap up opening, continuing the previous cycle rally. Range was 41 handles on 1.077M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is holding onto gains from lat week’s rally, consolidation throughout the globex session. Expectation for RTH session is continued back n fill type activity with a bullish lean. Of course Mr. Market is the final arbiter of direction. Stay flexible. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4450, initially targets 4465 – 4468 zone.
2.) Price sustains an offer below 4450, initially targets 4440 – 4435 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4465 PVA Low Edge = 4450 Prior POC = 4458
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4498; LOD ATR Range Projection: 4402; 3 Day Central Pivot: 4402; 3 Day Cycle Target: 4460; 10 Day Average True Range 57; VIX: 17.25
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is consolidating previous cycle gains during globex session, with normal expectation for this action to continue during regular trading hours. Prior range was 117 handles on 419k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15102 PVA Low Edge = 15058 Prior POC = 15082
Bull Scenario: IF Bulls sustain a bid above 15100, THEN initial upside estimate targets 15125 – 15145 zone.
Bear Scenario: IF Bears sustain an offer below 15100, THEN initial downside estimate targets 15080 – 15040 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 15264; LOD ATR Range Projection: 14938; 3 Day Central Pivot: 14928; 3 Day Cycle Target: 15108; 10 Day Average True Range: 225; VIX: 17.25
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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