Markets
Source: SeekingAlpha.com
Economic Calendar
8:55 Redbook Chain Store Sales
10:00 NAHB Housing Market Index
1:00 PM Results of $24B, 20-Year Bond Auction
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
***Written 8 pm Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication
Tuesday’s Session was Cycle Day 3 (CD3): Bullish price gap held back test, at which time price continued its upward trek fulfilling Cycle Objectives. Range was 29.25 handles on 1.106M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is some magnitude decline with average measuring 3769.25. Price closed strong in the upper quartile of the prior range, thus, expectation is for a continuation rally for GLOBEX and RTH sessions. As of this writing (8pm Tuesday evening) price is pushing above Prior High (3797) and approaching CD1 Penetration Level (3807.50) There are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3800, initially targets 3810 – 3818 zone.
2.) Price sustains an offer below 3797, initially targets 3785 – 3780 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
For more detailed information for both bullish and bearish projected targets, please visit: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet below:
Link to access full Cycle Spreadsheet >> Cycle Day 1 (CD1)
PVA High Edge = 3795 PVA Low Edge = 3782 Prior POC = 3793
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3828; LOD ATR Range Projection: 3768; 3 Day Central Pivot: 3718; 3 Day Cycle Target: 3771; 10 Day Average True Range 41; VIX: 22
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Continuation Rally for NAZ extended quiet holiday trade throughout prior session, closing in upper quartile of daily range. Expectation is for further expansion before the normal CD1 decline begins which measures 12958. Prior range was 222 handles on 411k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13008 PVA Low Edge = 12892 Prior POC = 12988
Bull Scenario: IF Bulls sustain a bid above 13064, THEN initial upside estimate targets 13077 – 13104 zone.
Bear Scenario: IF Bears sustain an offer below 13064, THEN initial downside estimate targets 13045 – 13033 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 13203; LOD ATR Range Projection: 12913; 3 Day Central Pivot: 12775; 3 Day Cycle Target: 12857; 10 Day Average True Range: 186; VIX: 22
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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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