Markets
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined, establishing a new cycle low at 3912.50. Prior range was 78 handles on 1.510M 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 3-day Central Pivot Zone during overnight activity. Options Expiration (OPEX) is on deck for today with 4000 being prominent strike from which to pin. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3980 initially targets 3995 – 4000 zone.
Bear Scenario: Price sustains an offer below 3980, initially targets 3965 – 3960 zone.
PVA High Edge = 3960 PVA Low Edge = 3924 Prior POC = 3944
Range Projections and Key Levels (ES) December 2022 (Z) Contract
HOD ATR Range Projection: 4034; LOD ATR Range Projection: 3892; 3 Day Central Pivot: 3980; 3 Day Cycle Target: 4083; 10 Day Average True Range 90.75; VIX: 24
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Cycle Day 1 Low was established at 11528. Price is trading higher, back into 3-day Central Pivot Zone during overnight activity. Options Expiration (OPEX) is on deck for today. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11813, THEN initial upside estimate targets 11890– 11898 zone.
Bear Scenario: IF Bears sustains offer below 11813, THEN initial downside estimate targets 11750 – 11725 zone.
PVA High Edge = 11715 PVA Low Edge = 11580 Prior POC = 11656
Range Projections and Key Levels (NQ) December 2022 (Z) Contract
HOD ATR Range Projection: 12030; LOD ATR Range Projection: 11462; 3 Day Central Pivot: 11813; 3 Day Cycle Target: 11996; 10 Day Average True Range: 358; VIX: 24
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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