8:30 Productivity and Costs
1:00 PM Results of $42B, 3-Year Note Auction
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 3 (CD3): Prices failed to sustain a bid above the CD2 high, ultimately violating the LIS (4166) reversing direction, selling off throughout the afternoon. Range was 59 handles on 1.487M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4108. We’ll mark 4130 as key Line-in-the-Sand for over/under. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4130, initially targets 4145 – 4150 zone.
Bear Scenario: Price sustains an offer below 4130, initially targets 4125 – 4120 zone.
PVA High Edge = 4172 PVA Low Edge = 4133 Prior POC = 4143
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
HOD ATR Range Projection: 4197; LOD ATR Range Projection: 4083; 3 Day Central Pivot: 4150; 3 Day Cycle Target: 4212; 10 Day Average True Range 72; VIX: 22
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Today is CD1 with Average Decline measuring 13105. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13120, THEN initial upside estimate targets 13145 – 13155 zone.
Bear Scenario: IF Bears sustains offer below 13120, THEN initial downside estimate targets 13065 – 13045 zone.
PVA High Edge = 13308 PVA Low Edge = 13137 Prior POC = 13195
Range Projections and Key Levels (NQ) Sept 2022 (U) Contract
HOD ATR Range Projection: 13420; LOD ATR Range Projection: 12895; 3 Day Central Pivot: 13256; 3 Day Cycle Target: 13436; 10 Day Average True Range: 338; VIX: 22
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!
“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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