Markets
Economic Calendar
10:00 E-Commerce Retail Sales
10:00 Quarterly Services Report
1:00 PM Baker-Hughes Rig Count
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 2 (CD2): This day was a “normal” CD2 session as price consolidated within range parameters outlined in yesterday’s briefing. Range was 37 handles (50% of average) on 1.315M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): It’s OPEX today, with 4300 being the most prominent strike, followed by 4250, which has elicited a buy response during prior sessions. Hence, we will be looking for continued activity centered around the expiring contracts with recent range boundaries. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 4250, initially targets 4270 – 4275 zone.
Bear Scenario: Price sustains offer below 4250, initially targets 4230 – 4225 zone.
PVA High Edge = 4288 PVA Low Edge = 4272 Prior POC = 4278
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
HOD ATR Range Projection: 4300; LOD ATR Range Projection: 4228; 3 Day Central Pivot: 4290; 3 Day Cycle Target: 4367; 10 Day Average True Range 60; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is trading lower this morning as today is OPEX, which we anticipate to be influential on price activity. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13400, THEN initial upside estimate targets 13455 – 13485 zone.
Bear Scenario: IF Bears sustains offer below 13400, THEN initial downside estimate targets 13360 – 13345 zone.
PVA High Edge = 13569 PVA Low Edge = 13493 Prior POC = 13515
Range Projections and Key Levels (NQ) Sept 2022 (U) Contract
HOD ATR Range Projection: 13923; LOD ATR Range Projection: 13391; 3 Day Central Pivot: 13507; 3 Day Cycle Target: 13772; 10 Day Average True Range: 296; 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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
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 SHOWN6.22.22