Markets
Economic Calendar
8:15 ADP Jobs Report
8:30 Initial Jobless Claims
8:30 Productivity and Costs
10:00 Factory Orders
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
12:00 PM Fed’s Logan Speech
1:00 PM Fed’s Mester: “What’s ahead for U.S. Monetary Policy?”
4:30 PM Fed Balance Sheet
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 3 (CD3): Price did trade above the CD1 Low during RTH fulfilling the 3 Day Cycle Statistic…BUT…Bulls could not hold bid as negative newsy flow reversed early bullish excitement, as price sold off throughout remainder of session. Prior range was 93.50 handles on 1.846M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Today begins a new cycle, with the Average Decline measuring 4070, which has been fulfilled. Price has bounced back during overnight trade activity, currently at 4120 handle.Expectation is for continued two-way traffic as market looks to seek more established balance. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4120, initially targets 4135 – 4140 zone.
Bear Scenario: Price sustains an offer below 4120, initially targets 4105 – 4095 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4125 PVA Low Edge = 4080 Prior POC = 4102
Range Projections and Key Levels (ES) June 2022 (M) Contract
HOD ATR Range Projection: 4195; LOD ATR Range Projection: 4012; 3 Day Central Pivot: 4143; 3 Day Cycle Target: 4120; 10 Day Average True Range; 112; VIX: 25
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline for CD1 measures 12368 for this cycle day. Price has rebounded back to 5-day POC (12640) following prior session’s sell-down. Expectation is for continued two-way traffic as market is searching for accepted balance. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustain a bid above 12640, THEN initial upside estimate targets 12680 – 12690 zone.
Bear Scenario: IF Bears sustain an offer below 12640, THEN initial downside estimate targets 12585– 12560 zone.
PVA High Edge = 11990 PVA Low Edge = 11855 Prior POC = 11903
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 12672; LOD ATR Range Projection: 12502; 3 Day Central Pivot: 12685; 3 Day Cycle Target: 12673; 10 Day Average True Range: 459; VIX: 25
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