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Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined, establishing a new cycle low at 3964 in more of a “balancing-day.” Prior range was 53 handles on 1.516M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is trading higher, back into prior session’s value during overnight activity. Traders await today’s PPI print for further evidence that inflation is cooling at the producer level. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4000, initially targets 4025 – 4030 zone.
Bear Scenario: Price sustains an offer below 3975, initially targets 3955 – 3950 zone.
PVA High Edge = 4004 PVA Low Edge = 3981 Prior POC = 3985
Range Projections and Key Levels (ES) December 2022 (Z) Contract
HOD ATR Range Projection: 4061; LOD ATR Range Projection: 3910; 3 Day Central Pivot: 3957; 3 Day Cycle Target: 4088; 10 Day Average True Range 98; VIX: 23
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Cycle Day 1 Low was established at 11702. Price is trading higher, back into prior session’s value during overnight activity. Traders await today’s PPI print for further evidence that inflation is cooling at the producer level. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11870, THEN initial upside estimate targets 11970– 11980 zone.
Bear Scenario: IF Bears sustains offer below 11760, THEN initial downside estimate targets 11685 – 11665 zone.
PVA High Edge = 11813 PVA Low Edge = 11731 Prior POC = 11796
Range Projections and Key Levels (NQ) December 2022 (Z) Contract
HOD ATR Range Projection: 12106; LOD ATR Range Projection: 11538; 3 Day Central Pivot: 11645; 3 Day Cycle Target: 12162; 10 Day Average True Range: 381; VIX: 23
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