Investors are digesting the March nonfarm payrolls report a bit late as markets were closed at the end of the week for Good Friday. The strong bounce in U.S. job growth, compounded with an accelerating vaccine rollout, is giving traders renewed enthusiasm after the S&P 500 topped the 4,000 milestone for the first time on Thursday. Overnight, the index rose another 0.5%, along with the Nasdaq and Dow Jones Industrial Average.
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Prior Session was Cycle Day 2 (CD2): Holiday shortened trade continued to feed bullish enthusiasm with new all-time high for ES future. Prior range was 12.75 handles on explosive 67k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Cycle objectives have been fulfilled, so today is marked as a “wild-card”, with freedom to roam about the range. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4025, initially targets 4034 – 4038 zone.
2.) Price sustains an offer below 4025, initially targets 4016 – 4012 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4027 PVA Low Edge = 4012 Prior POC = 4016
Range Projections and Key Levels (ES) June 2021 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is trading above prior value during overnight trade. Prior range was 67.50 on 41k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 1820 PVA Low Edge = 12708 Prior POC = 12736
Bull Scenario: IF Bulls sustain a bid above 13360, THEN initial upside estimate targets 13393 – 13402 zone.
Bear Scenario: IF Bears sustain an offer below 13360, THEN initial downside estimate targets 13325 – 13304 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