The dip-buyers who stepped in during the last hour of Wall Street trading yesterday are back again today, pushing stocks higher around the world. S&P futures (SPX), Nasdaq 100 futures (NDX:IND) and Dow Jones futures (INDU) are all up about 1%.
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Prior Session was Cycle Day 3 (CD3): Selling pushed price down over 2% intra-day before finding a late day bid into the closing bell. Range was 124 handles on 2.608M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Price has recovered approximately three-fourth’s of prior decline trading near 4380. Previous cycle failed, which historically occurs only 9% of the time. Two back-to-back failed cycles potentially sends a significant signal for future market direction, so this cycle will be important test of the market’s bullish resolve. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4370, initially targets 4395 – 4415 zone.
2.) Price sustains an offer below 4370, initially targets 4350 – 4325 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4370 PVA Low Edge = 4325 Prior POC = 4348
Range Projections and Key Levels (ES) December 2021 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price has rebounded approximately two-third’s of prior decline, trading near 15115. Prior range was 531 handles on 833k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15115 PVA Low Edge = 14873 Prior POC = 14933
Bull Scenario: IF Bulls sustain a bid above 15115, THEN initial upside estimate targets 15162 – 15185 zone.
Bear Scenario: IF Bears sustain an offer below 15115, THEN initial downside estimate targets 15027 – 15000 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
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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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