Markets
Economic Calendar
10:00 Fed’s Evans Speech
10:00 Wholesale Inventories (Preliminary)
12:00 PM Fed’s Waller Speech
12:00 PM Fed’s George Speech
1:00 PM Baker-Hughes Rig Count
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 2 (CD2): As expected, this cycle day was filled with wide range price swings as trade volleyed for control, with bulls winning the battle. Afternoon consolidation lead to a strong closing bid above the key 4000 strike zone. Range was 69 handles on 2.127M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is extending this cycle’s rally during overnight trade activity, fulfilling CD3 Penetration Target (4038.85). Above the 4000 strike zone, bulls dominate as there is no significant resistance until 4100. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 4015, initially targets 4045 – 4050 zone.
Bear Scenario: Price sustains offer below 4015, initially targets 4000 – 3995 zone.
PVA High Edge = 4002 PVA Low Edge = 3968 Prior POC = 3994
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
HOD ATR Range Projection: 4095; LOD ATR Range Projection: 3955; 3 Day Central Pivot: 3953; 3 Day Cycle Target: 3978; 10 Day Average True Range 87; VIX: 23
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is extending this cycle’s rally during overnight activity pushing into the upper CD3 Penetration Zone between 12440 – 12490. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12380, THEN initial upside estimate targets 12450 – 12490 zone.
Bear Scenario: IF Bears sustains offer below 12380, THEN initial downside estimate targets 12340 – 12320 zone.
PVA High Edge = 12312 PVA Low Edge = 12195 Prior POC = 12264
Range Projections and Key Levels (NQ) Sept 2022 (U) Contract
HOD ATR Range Projection: 12672; LOD ATR Range Projection: 12138; 3 Day Central Pivot: 12170; 3 Day Cycle Target: 12304; 10 Day Average True Range: 343; VIX: 23
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