Markets (Top Stories)
8:30 Chicago Fed National Activity Index
10:30 Dallas Fed Manufacturing Survey
Prior Session was Cycle Day 1 (CD1): Price established an early low at 4135.25 ending the week with OPEX Prior range was 25 handles on 1.588M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price has rested the CD1 Low (4135.25) during the overnight activity and has since rallied higher to 4150 handle. We’ll mark this level as today’s fulcrum. We’ll be anticipating some consolidation action today with price trading within 5-day value zone. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4150, initially targets 4160 – 4165 zone.
Bear Scenario: Price sustains an offer below 4150, initially targets 4140 – 4135 zone.
PVA High Edge = 4156 PVA Low Edge = 4146 Prior POC 4154
Range Projections and Key Levels (ES) June 2023 (M) Contract
HOD ATR Range Projection: 4175; LOD ATR Range Projection: 4110; 3 Day Central Pivot: 4158; 3 Day Cycle Target: 4175; 10 Day Average True Range 42; VIX: 17
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Price established an early low at 12982.50 ending the week with OPEX . Prior range was 139 handles on 587k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): We’ll mark 13070 as today’s fulcrum. We’ll be anticipating some consolidation action today with price trading within 5-day value zone. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13070, THEN initial upside estimate targets 13125– 13145 zone.
Bear Scenario: IF Bears sustains offer below 13070, THEN initial downside estimate targets 13000 – 12990 zone.
PVA High Edge = 13092 PVA Low Edge = 13042 Prior POC = 13067
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 13212; LOD ATR Range Projection: 12888; 3 Day Central Pivot: 13105; 3 Day Cycle Target: 13216; 10 Day Average True Range: 197; VIX: 17
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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