Trade Strategy 6.9.21

Markets

Major averages closed near the flatline on Tuesday as stocks remained range bound near record highs. Not much changed overnight, with Dow and S&P 500 futures holding steady and contracts linked to the Nasdaq inching up 0.1%.

Source: SeekingAlpha.com

Economic Calendar

10:00 Wholesale Inventories (Preliminary)
1:00 PM Results of $38B, 10-Year Note Auction

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

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


10:30 EIA Petroleum Inventories

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 1 (CD1):  This day unfolded as a “Normal CD1” with price fulfilling downside range objective 4208 – 4204 zone. The ensuing rally tagged upper TTT Level at 4235 before settling back within mid-value. Range was 31 handles on 1.207M contracts exchanged.

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2 (CD2): Part of this cycle’s rally is in-place, so expectation is for some continued back n fill consolidation with a long-bias for dip buyers. As such, estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4227, initially targets 4235 – 4236 zone. Breakout above PH (4236.75) opens the skylight objective to 4248 handle.

2.) Price sustains an offer below 4227, initially targets 4212 – 4209 zone.

*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle 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 = 4231       PVA Low Edge = 4221         Prior POC = 4227

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

HOD  ATR Range Projection: 4247; LOD ATR Range Projection: 4206; 3 Day Central Pivot: 4220; 3 Day Cycle Target: 4240; 10 Day Average True Range  25; VIX: 17

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Price is trading inside prior value zone (13856 – 13790) during overnight, with an underlying firm bid. Prior range was 176 handles on 475k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 13856       PVA Low Edge = 13790      Prior POC = 13813

Bull Scenario: IF Bulls sustain a bid above 13813, THEN initial upside estimate targets 13856 – 13890 zone.

Bear Scenario: IF Bears sustain an offer below 13813, THEN initial downside estimate targets 13780 – 13760 zone.

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

HOD  ATR Range Projection: 13936; LOD ATR Range Projection: 13732; 3 Day Central Pivot: 13759; 3 Day Cycle Target: 14027; 10 Day Average True Range: 133; VIX: 17

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


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