8:30 Initial Jobless Claims
9:10 Jerome Powell Speech
10:00 Quarterly Services Report
10:30 EIA Natural Gas Inventory
10:30 EIA Petroleum Inventories
12:00 PM Fed’s Evans Speech
3:00 PM Consumer Credit
4:30 PM Fed Balance Sheet
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 1 (CD1): Shallow decline (which is bullish) lead to trend day up, closing nears highs of session. Range was 105 (avg 85.50) handles, on 1.843M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): JPOW speaks at today, so once again Mr. Roboto will be hanging on his comments for a read-through on whether it’s going to be 50 bps or 75 bps or…? Price has held lower test of PUT WALL ZONE (3900) and as outlined in prior DTS 9.7.22, Clear & Conversion (C&C) of 3950 upper range edge clears the path potential for 4000 Strike Zone. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3980, initially targets 3995 – 4005 zone.
Bear Scenario: Price sustains an offer below 3980, initially targets 3970 – 3965 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 3988 PVA Low Edge = 3956 Prior POC = 3980
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Prior session was a trend day up with successful test of lower range edge (11950). Normal for CD2 is for two-way balancing action, though with today’s JPOW speech, expectation is elevated for traders response. 3-Day Rally Target (12304) has bee fulfilled, so anything goes for today’s trading. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustain a bid above 12265, THEN initial upside estimate targets 12320 – 12330 zone.
Bear Scenario: IF Bears sustain an offer below 12265, THEN initial downside estimate targets 12230– 12220zone.
PVA High Edge = 12303 PVA Low Edge = 12070 Prior POC = 12265
Range Projections and Key Levels (NQ) Sept 2022 (U) 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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