U.S. stock index futures are riding the de-escalation sentiment, with contracts linked to the Dow ahead by 1.1%, and S&P 500 and Nasdaq up 1.4% and 2%, respectively. Hopes of averting an energy crisis also sent crude futures (CL1:COM) down nearly 3% to $92.69 a barrel, retreating from the $95-level seen over the weekend.
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Prior Session was Cycle Day 2 (CD2): Normal Cycle Day 2 unfolded for the RTH Session, as price consolidated throughout the session. Range was 74 handles on 2.052M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Positive 3 Day Cycle objectives are in-place with relief rally as geo-political tensions subside As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4450, initially targets 4470 – 4475 zone.
2.) Price sustains an offer below 4450, initially targets 4435 – 4430 zone.
PVA High Edge = 4410 PVA Low Edge = 4380 Prior POC = 4394
Range Projections and Key Levels (ES) March 2022 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently rallying on subsiding tensions related to Russia/Ukraine. 3-Day Cycle Objectives are in-place, so we’ll mark today as a “wild-card” with headline risk influences. Prior range was 363 handles on 728k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustain a bid above 14490, THEN initial upside estimate targets 14555 – 14570 zone.
Bear Scenario: IF Bears sustain an offer below 14490, THEN initial downside estimate targets 14435 – 14395 zone.
PVA High Edge = 14315 PVA Low Edge = 14172 Prior POC = 14233
Range Projections and Key Levels (NQ) March 2022 (H) Contract
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.”
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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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