Markets (Top Stories)
Economic Calendar
1:00 PM Results of $40B, 3-Year Note Auction
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Cycle Low was established at 4098.75 early in the session and as such, rally began closing nears highs of the day. Prior range was 44 handles on 1.118M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): We’ll be anticipating some consolidation action today to work off yesterday’s rally. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4130, initially targets 4145 – 4150 zone.
Bear Scenario: Price sustains an offer below 4130, initially targets 4115 – 4110 zone.
PVA High Edge = 4141 PVA Low Edge = 4110 Prior POC 4130
Range Projections and Key Levels (ES) June 2023 (M) Contract
HOD ATR Range Projection: 4176; LOD ATR Range Projection: 4106; 3 Day Central Pivot: 4128; 3 Day Cycle Target: 4153; 10 Day Average True Range 44; VIX: 19
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Cycle Low was established at 12967 early in the session and as such, rally began closing nears highs of the day. Prior range was 235 handles on 549k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): We’ll be anticipating some consolidation action today to work off yesterday’s rally. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13125, THEN initial upside estimate targets 13195– 13205 zone.
Bear Scenario: IF Bears sustains offer below 13125, THEN initial downside estimate targets 13090 – 13080 zone.
PVA High Edge = 13185 PVA Low Edge = 13150 Prior POC = 13167
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 13326; LOD ATR Range Projection: 13008; 3 Day Central Pivot: 13127; 3 Day Cycle Target: 13200; 10 Day Average True Range: 200; VIX: 19
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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