Markets
Economic Calendar
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
10:00 Existing Home Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
1:20 PM Fed’s George Speech
1:45 PM Fed’s Kashkari Speech
4:30 PM Fed Balance Sheet
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price fulfilled the average decline zone projection. Range was 60 handles (10-day average) on 1.581M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Three-fourths of the rally off the CD1 Low (4255) is in-place, so expectation is for wide-range trade with LIS marked @ 4275. OPEX is on tap for tomorrow, with 4300 Strike being most prominent. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4275, initially targets 4290 – 4300 zone.
Bear Scenario: Price sustains an offer below 4275, initially targets 4260 – 4255 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4284 PVA Low Edge = 4264 Prior POC = 4276
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
HOD ATR Range Projection: 4318; LOD ATR Range Projection: 4228; 3 Day Central Pivot: 4290; 3 Day Cycle Target: 4293; 10 Day Average True Range; 60; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Prior session was a wide range day as reaction to Fed Minutes kept traders chasing moves in both directions. Normal for CD2 is for two-way balancing action. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustain a bid above 13530, THEN initial upside estimate targets 13565 – 13590 zone.
Bear Scenario: IF Bears sustain an offer below 13530, THEN initial downside estimate targets 12450– 12420 zone.
PVA High Edge = 13566 PVA Low Edge = 13461 Prior POC = 13491
Range Projections and Key Levels (NQ) Sept 2022 (U) Contract
HOD ATR Range Projection: 13683; LOD ATR Range Projection: 13259; 3 Day Central Pivot: 13600; 3 Day Cycle Target: 13867; 10 Day Average True Range: 272; VIX: 20
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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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