Markets
Source: SeekingAlpha.com
Economic Calendar
10:00 New Home Sales
1:00 PM Baker-Hughes Rig Count
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 3 (CD3): Price pushed higher post-Fed during morning session, but could not hold bid for long, as price settled back mid-range. Range was 69 handles on 1.409M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Price is tracking lower pre-RTH fulfilling CD1 Average Decline (4418.75). Market is still in search of balance and stabilization, so anticipate more probing throughout recent range for level acceptance. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4418, initially targets 4428 – 4435 zone.
2.) Price sustains an offer below 4418, initially targets 4406 – 4400 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4454 PVA Low Edge = 4428 Prior POC = 4440
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4476; LOD ATR Range Projection: 4380; 3 Day Central Pivot: 4385; 3 Day Cycle Target: 4450; 10 Day Average True Range; 61; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is retreating from prior session’s gains fulfilling CD1 Average Decline (15200). Prior range was 172 handles on 506k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15336 PVA Low Edge = 15255 Prior POC = 15322
Bull Scenario: IF Bulls sustain a bid above 15200, THEN initial upside estimate targets 15255 – 15265 zone.
Bear Scenario: IF Bears sustain an offer below 15200, THEN initial downside estimate targets 15175 – 15160 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 15430; LOD ATR Range Projection: 15102; 3 Day Central Pivot: 15142; 3 Day Cycle Target: 15407; 10 Day Average True Range: 231; VIX: 20
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 SHOWN