Markets (Top Stories)
Source: http://seekingalpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined establishing new cycle low at 4062. Prior range was 27 handles on 1.934M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is continuing this cycle’s rally which began from yesterday’s CD1 Low. Normal for CD2 would be for period of consolidation with a bullish lean for this cycle’s rally to continue. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4075, initially targets 4105 – 4115 zone.
Bear Scenario: Price sustains an offer below 4075, initially targets 4045 – 4040 zone.
PVA High Edge = 4088 PVA Low Edge = 4070 Prior POC 4076
Range Projections and Key Levels (ES) June 2023 (M) Contract
HOD ATR Range Projection: 4133; LOD ATR Range Projection: 4050; 3 Day Central Pivot: 4116; 3 Day Cycle Target: 4131; 10 Day Average True Range 56; VIX: 19
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined establishing new cycle low at 13014. Prior range was 171 handles on 649k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is continuing this cycle’s rally which began from yesterday’s CD1 Low. Normal for CD2 would be for period of consolidation with a bullish lean for this cycle’s rally to continue. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13060, THEN initial upside estimate targets 13140– 13160 zone.
Bear Scenario: IF Bears sustains offer below 13060, THEN initial downside estimate targets 12980 – 12960 zone.
PVA High Edge = 13096 PVA Low Edge = 13036 Prior POC = 13047
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 13267; LOD ATR Range Projection: 12928; 3 Day Central Pivot: 13146; 3 Day Cycle Target: 13212; 10 Day Average True Range: 212; VIX: 19
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.
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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