Markets
Economic Calendar
9:45 PMI Composite Flash
10:00 New Home Sales
10:00 Richmond Fed Mfg.
1:00 PM Results of $44B, 2-Year Note Auction
1:00 PM Money Supply
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined throughout the session, settling with a low of 4131.50. Range was 90 handles on 1.666M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal would be for stabilization to suppress the ongoing selling from prior session. Market sentiment has clearly shifted to “risk-off’, with bears now in-control. Jackson Hole meeting this week may be a driver of remaining month’s performance. As stated ‘tongue n cheek’…”A-Holes at J-Hole” As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4140, initially targets 4155 – 4160 zone.
Bear Scenario: Price sustains an offer below 4140, initially targets 4125 – 4120 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4163 PVA Low Edge = 4131 Prior POC = 4141
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
HOD ATR Range Projection: 4143; LOD ATR Range Projection: 4093; 3 Day Central Pivot: 4231; 3 Day Cycle Target: 4220; 10 Day Average True Range; 63; VIX: 23
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Normal CD1 unfolded with low marked at 12874.50. 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 12925, THEN initial upside estimate targets 12965 – 12975 zone.
Bear Scenario: IF Bears sustain an offer below 12925, THEN initial downside estimate targets 12885– 12875 zone.
PVA High Edge = 13095 PVA Low Edge = 12923 Prior POC = 12975
Range Projections and Key Levels (NQ) Sept 2022 (U) Contract
HOD ATR Range Projection: 13105; LOD ATR Range Projection: 12683; 3 Day Central Pivot: 13600; 3 Day Cycle Target: 13286; 10 Day Average True Range: 278; VIX: 23
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 SHOWN