Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 Initial Jobless Claims
8:30 Goods and Services Trade
10:00 Fed’s Waller: “Central Bank Digital Currency”
10:30 EIA Natural Gas Inventory
4:30 PM Fed Balance Sheet
\https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 3 (CD3): Price fulfilled 3 Day Cycle Statistic as well as Cycle Objective (4412). Prior Range was 24 handles on 1.022M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4386. Price is “nesting” within 2-day value zones, which suggest contraction of the range. This typically leads to a directional breakout, so remain vigilant for this scenario unfolding. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4405, initially targets 4415 – 4420 zone.
2.) Price sustains an offer below 4405, initially targets 4395 – 4390 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4405 PVA Low Edge = 4396 Prior POC = 4400
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
HOD ATR Range Projection: 4427; LOD ATR Range Projection: 4374; 3 Day Central Pivot: 4397; 3 Day Cycle Target: 4428; 10 Day Average True Range 34; VIX: 17.50
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is currently trading above prior value zone pre-RTH. Average Decline for CD1 measures 15027. Prior Range was 111 handles on 439k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15070 PVA Low Edge = 15018 Prior POC = 15053
Bull Scenario: IF Bulls sustain a bid above 15070, THEN initial upside estimate targets 15118 – 15138 zone.
Bear Scenario: IF Bears sustain an offer below 15070, THEN initial downside estimate targets 15042 – 15028 zone.
Range Projections and Key Levels (NQ) Sept 2021 (U) Contract
HOD ATR Range Projection: 15230; LOD ATR Range Projection: 14957; 3 Day Central Pivot: 15008; 3 Day Cycle Target: 15326; 10 Day Average True Range: 160; VIX: 17.50
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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