Trade Strategy 5.7.21

Markets

Source: SeekingAlpha.com

Economic Calendar

Blowout payrolls

Another stellar non-farm payrolls report is likely on tap this morning, with the Labor Department set to release numbers for April at 8:30 a.m. ET. Non-farm payrolls are forecast to have increased by 978,000 in April, following a 916,000 jump in March, which marked the largest increase since last August. The unemployment rate is meanwhile expected to have slipped slightly to 5.8%, from 6% last month, driven by re-opening activity, a broad vaccine rollout and financial help from the federal government.

8:30 Non-farm payrolls
9:00 Fed’s Barkin Speech
10:00 Wholesale Inventories (Preliminary)
1:00 PM Baker-Hughes Rig Count
3:00 PM Consumer Credit

https://www.investing.com/economic-calendar/

***New: PTG Trading Room Chat Log’s Link

S&P 500

Prior Session was Cycle Day 2 (CD2): Normal CD2 session as price consolidated throughout the session with signs of renewed strength heading into the closing rotation.. Prior range was 56.75 handles on 1.720M contracts exchanged.

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Three-Day Cycle Objective (4187) has been fulfilled. Price is near to another all-time high as the all-important Jobs Report will be the driver for today. As such, there are two estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4197, initially targets 4217 – 4220 zone.

2.) Price sustains an offer below 4197, initially targets 4178 – 4172 zone.

*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.

PVA High Edge = 4177       PVA Low Edge = 4154         Prior POC = 4171

Range Projections and Key Levels (ES) June 2021 (M) Contract

HOD  ATR Range Projection: 4228; LOD ATR Range Projection: 4170; 3 Day Central Pivot: 4165; 3 Day Cycle Target: 4187; 10 Day Average True Range  37; VIX: 18

Nasdaq 100 (NQ)

Today is Cycle Day 3 (CD3)…Price has fulfilled 3 Day Cycle Statistic is currently trading near 2 day high (13664) ahead of the Jobs Report release pre-RTH. Prior range was 223 handles on 562k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 13556       PVA Low Edge = 13452      Prior POC = 13473

Bull Scenario: IF Bulls sustain a bid above 13612, THEN initial upside estimate targets 13643 – 13664 zone.

Bear Scenario: IF Bears sustain an offer below 13612, THEN initial downside estimate targets 13556 – 13540 zone.

Range Projections and Key Levels (NQ) June 2021 (M) Contract

HOD  ATR Range Projection: 13784; LOD ATR Range Projection: 13465; 3 Day Central Pivot: 13550; 3 Day Cycle Target: 13803; 10 Day Average True Range: 196; VIX: 18

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


Leave a Reply