Markets
Economic Calendar
FOMC meeting begins
9:00 S&P Corelogic Case-Shiller Home Price Index
9:00 FHFA House Price Index
10:00 Consumer Confidence
10:00 New Home Sales
10:00 Richmond Fed Mfg.
1:00 PM Results of $46B, 5-Year Note Auction
1:00 PM Money Supply
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 2 (CD2): Normal CD2 unfolded as price oscillated within 3-day range parameters producing an “inside-day”. Range was 42.75 handles on 1.456M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): As long as price trades above CD1 Low (3941.50), this will satisfy the Cycle Statistic. Market is essentially in a “holding pattern” ahead of the FED announcement tomorrow. Range parameters measure 3983 – 3935. Daily Pivot marked @ 3965. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 3965, initially targets 3980 – 3985 zone.
Bear Scenario: Price sustains offer below 3965, initially targets 3945 – 3940 zone.
PVA High Edge = 3975 PVA Low Edge = 3960 Prior POC = 3968
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
HOD ATR Range Projection: 4031; LOD ATR Range Projection: 3883; 3 Day Central Pivot: 3971; 3 Day Cycle Target: 3980; 10 Day Average True Range 81; VIX: 24
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Normal CD2 unfolded in previous session with a downward skew. We will mark 12364 as key Line-in-Sand. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12364, THEN initial upside estimate targets 12422 – 12462 zone.
Bear Scenario: IF Bears sustains offer below 12364, THEN initial downside estimate targets 12280 – 12275 zone.
PVA High Edge = 12411 PVA Low Edge = 12312 Prior POC = 12368
Range Projections and Key Levels (NQ) Sept 2022 (U) Contract
HOD ATR Range Projection: 12608; LOD ATR Range Projection: 12001; 3 Day Central Pivot: 12462; 3 Day Cycle Target: 12465; 10 Day Average True Range: 333; VIX: 24
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 SHOWN6.22.22