Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Normal CD2 as price probed the lower quartile (4125) / Gamma Vol Trigger / TargetMaster and found strong responsive buyers. Prior range was 33 handles on 1.141M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is currently above 5 day MidPoint (4137) which was tested during overnight trade activity. Bulls will need to clear and convert 4150 handle to upper support in order to clear this “range-logjam.” Upper target zone remained unchanged (4175 – 4180). 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 = 4152 PVA Low Edge = 4137 Prior POC = 4148
Range Projections and Key Levels (ES) June 2023 (M) Contract
HOD ATR Range Projection: 4189; LOD ATR Range Projection: 4097; 3 Day Central Pivot: 4142; 3 Day Cycle Target: 4180; 10 Day Average True Range 50; VIX: 17
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Normal CD2 as price sold down during the AM Session to securely test the GBX Overnight Low. At which time responsive buyers aggressively took control and remainder of the session was a recovery back to near highs of the day. Prior range was 184 handles on 618k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is currently trading near 5-day range high and will need to clear and convert 13500 handle to breakout to higher ground. Three-Day Cycle Target measures 13575 and is clearly within reach of fulfillment. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13500, THEN initial upside estimate targets 13575– 13595 zone.
Bear Scenario: IF Bears sustains offer below 13500, THEN initial downside estimate targets 13385 – 13375 zone.
PVA High Edge = 13470 PVA Low Edge = 13405 Prior POC = 13433
Range Projections and Key Levels (NQ) June 2023 (M) Contract
HOD ATR Range Projection: 13620; LOD ATR Range Projection: 13309; 3 Day Central Pivot: 13418; 3 Day Cycle Target: 13575; 10 Day Average True Range: 183; 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.”
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