Markets
Economic Calendar
8:30 Initial Jobless Claims
8:30 Productivity and Costs
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
10:30 EIA Natural Gas Inventory
3:30 PM Fed’s Bostic Speech
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 2 (CD2): Price consolidated with a negative lean throughout this session, closing nears lows capped by a month-ending Market on Close Imbalance of $4.3 Billion. Range was 65 handles on 2.268M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is well below CD1 Low (3964.50), so this level must be recovered to avert a “failed cycle.” As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 3935, initially targets 3955 – 3965 zone.
Bear Scenario: Price sustains offer below 3935, initially targets 3925 – 3920 zone.
PVA High Edge = 4002 PVA Low Edge = 3966 Prior POC = 3973
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
HOD ATR Range Projection: 3996; LOD ATR Range Projection: 3886; 3 Day Central Pivot: 4007; 3 Day Cycle Target: 3965; 10 Day Average True Range 75; VIX: 26
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently trading below CD1 Low (12247.50) which needs to be recovered to avert a “failed” 3-Day Cycle. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12175, THEN initial upside estimate targets 12230 – 12250 zone.
Bear Scenario: IF Bears sustains offer below 12175, THEN initial downside estimate targets 12135 – 12110 zone.
PVA High Edge = 12417 PVA Low Edge = 12288 Prior POC = 12333
Range Projections and Key Levels (NQ) Sept 2022 (U) Contract
HOD ATR Range Projection: 12415; LOD ATR Range Projection: 11993; 3 Day Central Pivot: 12431; 3 Day Cycle Target: 12250; 10 Day Average True Range: 301; VIX: 26
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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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