Stock index futures are down slightly. Treasury yields are lower in early trading. The benchmark 10-year Treasury yield is down 1 basis point to 1.65%, while the 5-year yield, more closely associated with Fed rate forecasts, is down 1 basis point to 0.86%.
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Prior Session was Cycle Day 1 (CD1): In typical Bull Market fashion, price closed the previous week with a strong uptrend performance on Friday. Prior range was 40.50 handles on 975k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is balancing / consolidation to absorb recent price activity. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4102, initially targets 4115 – 4118 zone.
2.) Price sustains an offer below 4102, initially targets 4096 – 4092 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4102 PVA Low Edge = 4088 Prior POC = 4092
Range Projections and Key Levels (ES) June 2021 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is currently trading above prior value zone during overnight trade. Prior Range was 193.50 handles on 475k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13768 PVA Low Edge = 13657 Prior POC = 13726
Bull Scenario: IF Bulls sustain a bid above 13768, THEN initial upside estimate targets 13813 – 13833 zone.
Bear Scenario: IF Bears sustain an offer below 13768, THEN initial downside estimate targets 13733 – 13723 zone.
Range Projections and Key Levels (NQ) June 2021 (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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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