Stock futures inched higher overnight, with the Dow and S&P 500 up 0.1%, respectively, and the Nasdaq ahead by 0.3%.
No events scheduled
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The current “pace of roll” is 40% as of Friday, which is slightly below the average rate. We expect that rate to accelerate back into the normal zone as the roll into Sept (U) continues.
Prior Session was Cycle Day 1 (CD1): This day unfolded as a “Normal CD1” with price declining, finding buy response at 4221.50. Range was 17 handles on 585k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Part of this cycle’s rally is in-place, so expectation is for some continued back n fill consolidation with a long-bias for dip buyers. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4238, initially targets 4250 – 4255 zone.
2.) Price sustains an offer below 4238, initially targets 4228 – 4221 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4235 PVA Low Edge = 4226 Prior POC = 4228
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
HOD ATR Range Projection: 4262; LOD ATR Range Projection: 4222; 3 Day Central Pivot: 4223; 3 Day Cycle Target: 4255; 10 Day Average True Range 26; VIX: 16
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is trading above prior value zone (13968 – 13945) during overnight, and has fulfilled initial upside cycle objective (14008). Next objective measures 14121.50. Prior range was 66 handles on 174k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13968 PVA Low Edge = 13945 Prior POC = 13962
Bull Scenario: IF Bulls sustain a bid above 13990, THEN initial upside estimate targets 14022 – 14043 zone.
Bear Scenario: IF Bears sustain an offer below 13990, THEN initial downside estimate targets 13960 – 13943 zone.
Range Projections and Key Levels (NQ) Sept 2021 (U) Contract
HOD ATR Range Projection: 14043; LOD ATR Range Projection: 13908; 3 Day Central Pivot: 13893; 3 Day Cycle Target: 14008; 10 Day Average True Range: 135; VIX: 16
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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