Wall Street saw a stampede of buyers on Wednesday, as signs of cooling inflation sent the major averages soaring. The Dow Jones Industrial Average added more than 500 points, while the S&P 500 rose more than 2%, with all 11 sectors of the benchmark index finishing higher. The tech-heavy Nasdaq Composite also soared, bringing its recent gains to over 20% to enter bull market territory, while adding to the two-month recovery for financial markets.
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Prior Session was Cycle Day 2 (CD2): Gap opening following release of CPI vaulted price up to 4200 handle, where it consolidated zonally throughout the session. Range was 100 handles on 1.541M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (4224) is in-place Bulls continue to dominant as “value” is in an uptrend. Under invested CTA’s and Hedge Funds are forced to keep buying in this tape. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 4210, initially targets 4225 – 4230 zone.
Bear Scenario: Price sustains offer below 4210, initially targets 4195 – 4190 zone.
PVA High Edge = 4210 PVA Low Edge = 4192 Prior POC = 4204
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Three-Day Cycle Target (13415) has been fulfilled completing a positive cycle. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13380, THEN initial upside estimate targets 13460 – 13480 zone.
Bear Scenario: IF Bears sustains offer below 13380, THEN initial downside estimate targets 13313 – 13258 zone.
PVA High Edge = 13387 PVA Low Edge = 13302 Prior POC = 13343
Range Projections and Key Levels (NQ) Sept 2022 (U) Contract
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 SHOWN6.22.22