8:30 International trade in goods (Advance)
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
9:45 Chicago PMI
10:00 Pending Home Sales
10:00 State Street Investor Confidence Index
11:00 Survey of Business Uncertainty3:00 PM Farm Prices
***New: PTG Trading Room Chat Log’s Link
***Written 8 pm Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication
Tuesday’s Session was Cycle Day 1 (CD1): Price rallied during the Globex Session fulfilling 3 Day Cycle Objective 3747.50, before declining to Average Range Decline 3720. Range was 33.25 handles on 972k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Cycle Low is in-place (3714.50) as Bulls will need to keep bid above this level heading into year end. Santa Claus Rally trade is still in full force, so as Danny Riley (Dboy) says: “Thin To Win”. There are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3720, initially targets 3730 – 3735 zone.
2.) Price sustains an offer below 3720, initially targets 3705 – 3700 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 2 (CD2)
PVA High Edge = 3734 PVA Low Edge = 3718 Prior POC = 3731
Range Projections and Key Levels (ES) March 2021 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price has recovered lost ground from prior session and currently trading at high end of prior Value Zone Range was 110 handles on 391k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12880 PVA Low Edge = 12830 Prior POC = 12858
Bull Scenario: IF Bulls sustain a bid above 12885, THEN initial upside estimate targets 12900 – 12905 zone.
Bear Scenario: IF Bears sustain an offer below 12885, THEN initial downside estimate targets 12875 – 12860 zone.
Range Projections and Key Levels (NQ) March 2021 (H) 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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