Markets
Economic Calendar
7:40 Fed’s Williams Speech
8:30 Fed’s Bostic Speech
9:15 Fed’s Barkin: “Why We Care About Inflation”
1:00 PM Fed’s Kashkari Speech
1:00 PM Results of $45B, 3-Year Note Auction
3:00 PM Fed’s Mester Speech
7:00 PM Fed’s Bostic Speech
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 1 (CD1): Market selloff accelerated pushing down to key SPX 4000 level, albeit in an “orderly” fashion, without any panic moves…Just persistent selling by the mutual funds. Prior range was 129 handles on 2.061M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal is for some ‘back n fill’ consolidation activity to balance previous session with CD1 Low marked at 3970. Overnight trade successfully tested CD1 as support, rallying up to mid-morning high pivot (4035), Potential for a “Turn Around Tuesday” shaping up should the selling decelerate. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4020, initially targets 4045 – 4055 zone.
Bear Scenario: Price sustains an offer below 4020, initially targets 4000 – 3980 zone.
PVA High Edge = 4055 PVA Low Edge = 3997 Prior POC = 4017
Range Projections and Key Levels (ES) June 2022 (M) Contract
HOD ATR Range Projection: 4093; LOD ATR Range Projection: 3902; 3 Day Central Pivot: 4104; 3 Day Cycle Target: 4007; 10 Day Average True Range 132; VIX: 34
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Today we’ll be looking for a CD2 “normal” for price to stabilize prior session selling. CD1 low is marked at 12135. Prior range was 502 handles on 799k contracts traded. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustain a bid above 12290, THEN initial upside estimate targets 12390 – 12435 zone.
Bear Scenario: IF Bears sustain an offer below 12290, THEN initial downside estimate targets 12195 – 12135 zone.
PVA High Edge = 12233 PVA Low Edge = 12195 Prior POC = 12290
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 12641; LOD ATR Range Projection: 11879; 3 Day Central Pivot: 12693; 3 Day Cycle Target: 12551; 10 Day Average True Range: 539; VIX: 34
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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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