Markets
Overnight, Dow and S&P 500 futures hugged the flatline, while contracts tied to the Nasdaq rose 0.2%.
Source: SeekingAlpha.com
Economic Calendar
1:00 PM Baker-Hughes Rig Count
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 2 (CD2): Price consolidated throughout the session ending mid-range. Prior range was 39.75 handles on 1.596M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Positive 3-day cycle statistic is in-place as today’s focus will be QUAD Options Expiration. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4210, initially targets 4220 – 4225 zone.
2.) Price sustains an offer below 4210, initially targets 4180 – 4175 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4221 PVA Low Edge = 4205 Prior POC = 4211
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
HOD ATR Range Projection: 4225; LOD ATR Range Projection: 4191; 3 Day Central Pivot: 4220; 3 Day Cycle Target: 4225; 10 Day Average True Range 28; VIX: 18
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price has fulfilled 3 Day Cycle Statistic as price action remains strong in the Tech Sector. Prior range was 357 handles on 626k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 14196 PVA Low Edge = 14034 Prior POC = 14182
Bull Scenario: IF Bulls sustain a bid above 14200, THEN initial upside estimate targets 14251 – 14254 zone.
Bear Scenario: IF Bears sustain an offer below 14200, THEN initial downside estimate targets 14103 – 14060 zone.
Range Projections and Key Levels (NQ) Sept 2021 (U) Contract
HOD ATR Range Projection: 14302; LOD ATR Range Projection: 14039; 3 Day Central Pivot: 14029; 3 Day Cycle Target: 14102; 10 Day Average True Range: 165; VIX: 18
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