8:30 Non-farm payrolls
9:45 PMI Composite Final
10:00 ISM Service Index
10:30 Fed’s Brainard Speech
1:00 PM Baker-Hughes Rig Count
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 1 (CD1): Normal Cycle Day 1 with low in-place at 4072.25. Prior range was 107 handles on 2.324M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal is for some ‘back n fill’ consolidation activity to balance previous session with CD1 Low marked at 4072.25. Price was rejected again at the 50 DEMA during overnight trade activity, and is currently on a down swing heading into RTH. BIG Jobs Report to which most likely will have an effect for the weekly close being a Friday. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4143, initially targets 4155 – 4162 zone.
Bear Scenario: Price sustains an offer below 4143, initially targets 4130 – 4123 zone.
PVA High Edge = 4176 PVA Low Edge = 4100 Prior POC = 3900
Range Projections and Key Levels (ES) June 2022 (M) Contract
HOD ATR Range Projection: 4248; LOD ATR Range Projection: 4085; 3 Day Central Pivot: 4130; 3 Day Cycle Target: 4187; 10 Day Average True Range 103; VIX: 25
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Prices are sliding pre-RTH as nervous traders await the all-important Jobs Report. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustain a bid above 12748, THEN initial upside estimate targets 12824 – 12886 zone.
Bear Scenario: IF Bears sustain an offer below 12748, THEN initial downside estimate targets 12684 – 12670 zone.
PVA High Edge = 12900 PVA Low Edge = 12574 Prior POC = 12848
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 13159; LOD ATR Range Projection: 12513; 3 Day Central Pivot: 12670; 3 Day Cycle Target: 12877; 10 Day Average True Range: 432; 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!
“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