Markets
Source: SeekingAlpha.com
Economic Calendar
10:00 Consumer Sentiment
10:00 Job Openings and Labor Turnover Survey
12:10 PM Fed’s Williams Speech
1:00 PM Baker-Hughes Rig Count
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 2 (CD2): Markets paused yesterday as normal CD2 unfolded with price consolidating. Range was 23.50 handles on 916k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): The 3-Day Rally Target has been fulfilled (4660)…So today is marked as a “wild-card”. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4645, initially targets 4660 – 4662 zone.
2.) Price sustains an offer below 4645, initially targets 4628 – 4625 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4653 PVA Low Edge = 4645 Prior POC = 4649
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4676; LOD ATR Range Projection: 4623; 3 Day Central Pivot: 4660; 3 Day Cycle Target: 4660; 10 Day Average True Range 32; VIX: 17.50
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)… Price is trading within 2-day value zone during overnight activity. Prior range was 138 handles on 431k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 16093 PVA Low Edge = 16034 Prior POC = 16063
Bull Scenario: IF Bulls sustain a bid above 16063, THEN initial upside estimate targets 16111 – 16130 zone.
Bear Scenario: IF Bears sustain an offer below 16063, THEN initial downside estimate targets 16000 – 15976 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 16220; LOD ATR Range Projection: 15906; 3 Day Central Pivot: 16111; 3 Day Cycle Target: 16162; 10 Day Average True Range:187; VIX: 17.50
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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