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Prior Session was Cycle Day 2 (CD2): This Cycle Day 2 lined up with QUAD OPEX saw more than 1/3 of SPX contracts expire, which provided a firm bid for futures at week’s end. Range was 93 handles on 1.208M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Contract rollover and OPEX are now complete…Medium/Longer Term Pivot is marked at 4400 (SPX). Currently, bulls have the tailwind to move price higher…As such we’ll maintain a bullish lean until there is a definitive shift on the daily time frame. We’ll mark today as a “wild-card” since cycle objectives have been achieved. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 4450, initially targets 4460 – 4465 zone.
Bear Scenario: Price sustains offer below 4450, initially targets 4440 – 4435 zone.
PVA High Edge = 4456 PVA Low Edge = 4396 Prior POC = 4450
Range Projections and Key Levels (ES) June 2022 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…We’ll mark today as a “wild-card” since cycle objectives have been achieved. Prior range was 458 handles on 524k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 14365, THEN initial upside estimate targets 14420 – 14445 zone.
Bear Scenario: IF Bears sustains offer below 14365, THEN initial downside estimate targets 14335 – 14310 zone.
PVA High Edge = 14352 PVA Low Edge = 14032 Prior POC = 14300
Range Projections and Key Levels (NQ) June 2022 (M) 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.”
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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