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 3916. Prior range was 61 handles on 1.481M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for Cycle Day 2 is for some consolidation of prior session’s activity. BIG Event for today is PPI, which potentially could be a market mover. Price is currently trading at upper edge of 5-day value. 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 3955 – 3950 zone.
PVA High Edge = 43970 PVA Low Edge = 3954 Prior POC = 3965
Range Projections and Key Levels (ES) December 2022 (Z) Contract
HOD ATR Range Projection: 4031; LOD ATR Range Projection: 3911; 3 Day Central Pivot: 3950; 3 Day Cycle Target: 4022; 10 Day Average True Range 71; VIX: 22
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined, establishing a new cycle low at 11547. Prior range was 252 handles on 574k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for Cycle Day 2 is for some consolidation of prior session’s activity. BIG Event for today is PPI, which potentially could be a market mover. Price is currently trading at upper edge of 5-day value. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 11737 initially targets 11810 – 11820 zone.
Bear Scenario: Price sustains an offer below 11737, initially targets 11700 – 11680 zone.
PVA High Edge = 11778 PVA Low Edge = 11694 Prior POC = 11737
Range Projections and Key Levels (NQ) December 2022 (Z) Contract
HOD ATR Range Projection: 11901; LOD ATR Range Projection: 11440; 3 Day Central Pivot: 11687; 3 Day Cycle Target: 11915; 10 Day Average True Range: 277; VIX: 22
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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