Markets (Top Stories)
Economic Calendar
8:30 Initial Jobless Claims
8:30 Producer Price Index
10:30 EIA Natural Gas Inventory
4:30 PM Fed Balance Sheet
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): Positive 3-Day Cycle was fulfilled as an Outside Reversal Day unfolded in a wide range ZIG-ZAG type trade opportunity filled session. PTG Strategies had their best performance within past two-weeks. We love volatility (i.e. movement) Prior range was 47 handles on 1.513M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4123 which has been fulfilled. We’ll mark 4125 as today’s Line-In-Sand (LIS). This level marks the midpoint of the 5 day Value Area. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4125, initially targets 4140 – 4145 zone.
Bear Scenario: Price sustains an offer below 4125, initially targets 4110 – 4105 zone.
PVA High Edge = 4160 PVA Low Edge = 4130 Prior POC 4145
Range Projections and Key Levels (ES) June 2023 (M) Contract
HOD ATR Range Projection: 4152; LOD ATR Range Projection: 4089; 3 Day Central Pivot: 4135; 3 Day Cycle Target: 4147; 10 Day Average True Range 42; VIX: 19
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Positive 3-Day Cycle was fulfilled as an Outside Reversal Day unfolded in a wide range ZIG-ZAG type trade opportunity filled session. PTG Strategies had their best performance within past two-weeks. We love volatility (i.e. movement) Prior range was 304 handles on 678k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 13026 which has been fulfilled. We’ll mark 12960 as today’s LIS. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12960, THEN initial upside estimate targets 13010– 13025 zone.
Bear Scenario: IF Bears sustains offer below 12960, THEN initial downside estimate targets 12910 – 12900 zone.
PVA High Edge = 13120 PVA Low Edge = 12995 Prior POC = 13075
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 13126; LOD ATR Range Projection: 12818; 3 Day Central Pivot: 13090; 3 Day Cycle Target: 13107; 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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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