Markets
Source: SeekingAlpha.com
Economic Calendar
1:00 PM Results of $58B, 3-Year Note Auction
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S&P 500
Prior Session was Cycle Day 2 (CD2): Shortened holiday session with light participation. Range was 24 handles on 117k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is still in the midst of a multi-day consolidation pattern as traders slowly return to their respective trading desks. 3 Day Cycle Statistic is in-place as price is trading above CD1 Low (4519.25). We’ll mark to day as a “wild-card” with bulls remaining in control. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4536+-, initially targets 4548 – 4554 zone.
2.) Price sustains an offer below 4536+-, initially targets 4528 – 4524 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4548 PVA Low Edge = 4535 Prior POC = 4544
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
HOD ATR Range Projection: 4551; LOD ATR Range Projection: 4519; 3 Day Central Pivot: 4535; 3 Day Cycle Target: 4554; 10 Day Average True Range 22; VIX: 17
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Nasdaq future has fulfilled 3 Day Cycle Statistic. Prior range was 66 handles on 56430 contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15708 PVA Low Edge = 15683 Prior POC = 15701
Bull Scenario: IF Bulls sustain a bid above 15651+-, THEN initial upside estimate targets 15666 – 15676 zone.
Bear Scenario: IF Bears sustain an offer below 15651+-, THEN initial downside estimate targets 15623 – 15612 zone.
Range Projections and Key Levels (NQ) Sept 2021 (U) Contract
HOD ATR Range Projection: 15734; LOD ATR Range Projection: 15590; 3 Day Central Pivot: 15641; 3 Day Cycle Target: 15654; 10 Day Average True Range: 112; VIX: 17
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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