U.S. stock index futures inched up overnight, but not by much, as traders await the latest weekly update on the number of Americans applying for jobless benefits.
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Prior Session was Cycle Day 1 (CD1): Price oscillated throughout the session as CD1 downside targets had previously been fulfilled during CD3. Prior range was 27 handles on 1.382M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): More consolidation is expected for this cycle day as traders await this week’s all-telling Jobs Report on Friday. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4162, initially targets 4175 – 4180 zone.
2.) Price sustains an offer below 4162, initially targets 4150 – 4145 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4178 PVA Low Edge = 4162 Prior POC = 4170
Range Projections and Key Levels (ES) June 2021 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price continues to consolidate within 2-day value range with 3 day cycle statistic fulfilled. Prior Range was 203 handles on 515k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13630 PVA Low Edge = 13546 Prior POC = 13614
Bull Scenario: IF Bulls sustain a bid above 13527, THEN initial upside estimate targets 13550 – 13570 zone.
Bear Scenario: IF Bears sustain an offer below 13527, THEN initial downside estimate targets 13495 – 13470 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