Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): CPI Print created a “range runner” session as price tagged and reversed from our upper and lower targets outlined in DTS Briefing 5.10.23. Trading Room posting’s provide our community real-time guidance as to market dynamics.
PTGDavid :(10:06:55 AM) : Now today they just going to rip it wide in each direction
PTGDavid :(10:19:24 AM) : Range Runner Action
Prior range was 61 handles on 1.824M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is currently above CD1 Low (4131) and as long as it stays above this level for RTH, then Positive 3 Day Cycle Statistic will be fulfilled. At that point, it is a “wild-card” for direction. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4150, initially targets 4175 – 4180 zone.
Bear Scenario: Price sustains an offer below 4150, initially targets 4135 – 4130 zone.
PVA High Edge = 4155 PVA Low Edge = 4127 Prior POC = 4146
Range Projections and Key Levels (ES) June 2023 (M) Contract
HOD ATR Range Projection: 4205; LOD ATR Range Projection: 4110; 3 Day Central Pivot: 4145; 3 Day Cycle Target: 4202; 10 Day Average True Range 50; VIX: 17
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): CPI Print created a “range runner” session as price tagged and reversed from our upper and lower targets. Trading Room posting’s provide our community real-time guidance as to market dynamics. Prior range was 244 handles on 833k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is currently above CD1 Low (13250) and as long as it stays above this level for RTH, then Positive 3 Day Cycle Statistic will be fulfilled. At that point, it is a “wild-card” for direction. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13410, THEN initial upside estimate targets 13455– 13465 zone.
Bear Scenario: IF Bears sustains offer below 13410, THEN initial downside estimate targets 13375 – 13355 zone.
PVA High Edge = 13434 PVA Low Edge = 13339 Prior POC = 13386
Range Projections and Key Levels (NQ) June 2023 (M) Contract
HOD ATR Range Projection: 13616; LOD ATR Range Projection: 13250; 3 Day Central Pivot: 13320; 3 Day Cycle Target: 13530; 10 Day Average True Range: 196; 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!
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.”
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