Markets
Economic Calendar
10:00 New Home Sales
10:00 Richmond Fed Mfg.
1:00 PM Results of $60B, 2-Year Note Auction
1:00 PM Money Supply
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S&P 500
Prior session was Cycle Day 1 (CD1): Shallow decline during globex sent futures galloping higher on open gap, which developed into trend day. Range was 52.25 handles on 952k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is for some ‘back n fill’ price activity to absorb recent gains. Sellers appear to be on holiday as markets are in the midst of big vacation period through Labor Day. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4486, initially targets 4496 – 4500 zone.
2.) Price sustains an offer below 4486, initially targets 4470 – 4465 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4486 PVA Low Edge = 4465 Prior POC = 4480
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
HOD ATR Range Projection: 4516; LOD ATR Range Projection: 4455; 3 Day Central Pivot: 4424; 3 Day Cycle Target: 4468; 10 Day Average True Range 36; VIX: 17
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Nasdaq futures roared back with as vengeance yesterday, following a period of relative weakness. Normal for CD2 is for some ‘back n fill’ price activity to balance recent gains. Prior range was 251 handles on 405k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15338 PVA Low Edge = 15204 Prior POC = 15320
Bull Scenario: IF Bulls sustain a bid above 15338, THEN initial upside estimate targets 15370 – 15377 zone.
Bear Scenario: IF Bears sustain an offer below 15338, THEN initial downside estimate targets 15300 – 15275 zone.
Range Projections and Key Levels (NQ) Sept 2021 (U) Contract
HOD ATR Range Projection: 15508; LOD ATR Range Projection: 15198; 3 Day Central Pivot: 15049; 3 Day Cycle Target: 15302; 10 Day Average True Range: 185; VIX: 17
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