Markets (Top Stories)
Economic Calendar
8:30 International Trade in Goods (Advance)
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
9:00 Case-Shiller Home Price Index
9:00 FHFA House Price Index
10:00 Consumer Confidence
10:00 Fed’s Barr Testify on Bank Oversight
10:00 Richmond Fed Mfg.
1:00 PM Results of $43B, 5-Year Note Auction
1:00 PM Money Supply
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Price oscillated throughout this session establishing a new Cycle Low at 3997.50. Prior range was 36 handles on 1.249M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is back n fill consolidation to work off recent activity. Price is currently trading near prior CD1 Low (3997.50) and near midpoint of 5-day value zone. Bears dominated majority of prior session, so there is spill-over potential for today’s session. 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 4000, initially targets 3975 – 3970 zone.
PVA High Edge = 4022 PVA Low Edge = 4005 Prior POC 4011
Range Projections and Key Levels (ES) June 2023 (M) Contract
HOD ATR Range Projection: 4082; LOD ATR Range Projection: 3940; 3 Day Central Pivot: 3997; 3 Day Cycle Target: 4070; 10 Day Average True Range 83; VIX: 20
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Price oscillated throughout this session establishing a new Cycle Low at 12765.50. Prior range was 219 handles on 554k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is back n fill consolidation to work off recent activity. Price is currently trading near prior CD1 Low (12765.50) and near lower edge of 5-day value zone. Bears dominated majority of prior session, so there is spill-over potential for today’s session. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12765, THEN initial upside estimate targets 12850– 12860 zone.
Bear Scenario: IF Bears sustains offer below 12765, THEN initial downside estimate targets 12670 – 12660 zone.
PVA High Edge = 12905 PVA Low Edge = 12770 Prior POC = 12843
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 13041; LOD ATR Range Projection: 12543; 3 Day Central Pivot: 12763; 3 Day Cycle Target: 13016; 10 Day Average True Range: 290; VIX: 20
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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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