Markets (Top Stories)
Economic Calendar
8:30 Retail Sales
8:30 Import/Export Prices
8:45 Fed’s Waller Speech
9:15 Industrial Production
10:00 Business Inventories
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Price established an early low, and when this occurs, odds favor the rally starting and developing as a trend day. This cycle day was a “textbook” Taylor Cycle BUY DAY. Prior range was 66 handles on 1.382M 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 4165, initially targets 4180 – 4185 zone.
Bear Scenario: Price sustains an offer below 4165, initially targets 4145 – 4140 zone.
PVA High Edge = 4176 PVA Low Edge = 4140 Prior POC 4173
Range Projections and Key Levels (ES) June 2023 (M) Contract
HOD ATR Range Projection: 4207; LOD ATR Range Projection: 4130; 3 Day Central Pivot: 4143; 3 Day Cycle Target: 4187; 10 Day Average True Range 45; VIX: 18
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Price established an early low, and when this occurs, odds favor the rally starting and developing as a trend day. This cycle day was a “textbook” Taylor Cycle BUY DAY. Prior range was 302 handles on 546k 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 13200– 13230 zone.
Bear Scenario: IF Bears sustains offer below 13125, THEN initial downside estimate targets 13085 – 13065 zone.
PVA High Edge = 13225 PVA Low Edge = 13068 Prior POC = 13205
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 13333; LOD ATR Range Projection: 13004; 3 Day Central Pivot: 13090; 3 Day Cycle Target: 13278; 10 Day Average True Range: 213; VIX: 18
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