Markets

Source: SeekingAlpha.com

Economic Calendar

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

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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): Price declined to projected range level (4512), where buyer’s responded. Participation is subpar as traders remain on extended holiday. Range was 34.50 handles on 1.090M contracts exchanged. 

 …Transition from Cycle Day 3 to Cycle Day 1

This leads us into Cycle Day 1 (CD1): Average Decline is in-place (4512.50), but price momentum favors a probe lower before the next cycle rally develops. As such, estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4520, initially targets 4530 – 4535 zone. 

2.) Price sustains an offer below 4520, initially targets 4512 – 4506 zone. Violation of PL (4510.75) opens trap door to 4496 level.

*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics 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 = 4525       PVA Low Edge = 4514         Prior POC = 4520

Range Projections and Key Levels (ES) Sept 2021 (U) Contract

HOD  ATR Range Projection: 4521; LOD ATR Range Projection: 4499; 3 Day Central Pivot: 4533; 3 Day Cycle Target: 4547; 10 Day Average True Range  24; VIX: 18.50

Nasdaq 100 (NQ)

Today is Cycle Day 1 (CD1)…Price declined overnight to CD1 15621, where buyers responded, pushing back into value zone. Prior range was 95.50 handles on 477k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 15698       PVA Low Edge = 15648      Prior POC = 15674

Bull Scenario: IF Bulls sustain a bid above 15675, THEN initial upside estimate targets 15690 – 15700 zone.

Bear Scenario: IF Bears sustain an offer below 15675, THEN initial downside estimate targets 15650 – 15640 zone.

Range Projections and Key Levels (NQ) Sept 2021 (U) Contract

HOD  ATR Range Projection: 15719; LOD ATR Range Projection: 15577; 3 Day Central Pivot: 15657; 3 Day Cycle Target: 15826; 10 Day Average True Range: 114; VIX: 18.50

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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