Markets
Source: SeekingAlpha.com
Economic Calendar
12:30 PM Investor Movement Index
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 2 (CD2): Price pushed down to Key Support (4100) during a choppy two-way balancing session to end the week. Range was 92 handles on 1.474M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Markets are rallying pre-RTH, currently trading near 5-day VAH (4150). Three-Day Cycle Statistic appears to be in-place as price is securely above CD1 Low (4072.25). As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 4150, initially targets 4170 – 4175 zone.
Bear Scenario: Price sustains offer below 4150, initially targets 4135 – 4130 zone.
PVA High Edge = 4130 PVA Low Edge = 4100 Prior POC = 4107
Range Projections and Key Levels (ES) June 2022 (M) Contract
HOD ATR Range Projection: 4208; LOD ATR Range Projection: 4052; 3 Day Central Pivot: 4130; 3 Day Cycle Target: 4187; 10 Day Average True Range 104; VIX: 25
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently trading near overnight high as three-day cycle statistic is securely in-place above (12442.50). Bulls will need to convert 740 to get further upside expansion of range. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12750, THEN initial upside estimate targets 12820 – 12825 zone.
Bear Scenario: IF Bears sustains offer below 12750, THEN initial downside estimate targets 12700 – 12680 zone.
PVA High Edge = 12666 PVA Low Edge = 12509 Prior POC = 12545
Range Projections and Key Levels (NQ) June 2022 (M) Contract
HOD ATR Range Projection: 12966; LOD ATR Range Projection: 12312; 3 Day Central Pivot: 12675; 3 Day Cycle Target: 12948; 10 Day Average True Range: 438; 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.”
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