Markets
S&P 500 futures climbing nearly 1% overnight
Source: SeekingAlpha.com
Economic Calendar
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
11:00 Fed’s Bullard Speech
12:00 PM Fed’s Williams Speech
12:45 PM Fed’s Clarida Speech
1:00 PM Results of $24B, 2-Year FRN Auction
1:00 PM Results of $56B, 5-Year Note Auction
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 3 (CD3): Positive 3-Day Cycle Statistic is in-place as price oscillated in a wide Neutral Day Profile. Range was 42.50 handles on 1.155M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is a decline with the average measuring 3519. Price has pushed higher during overnight trading above prior Value Zone to CD1 Range High Zone between 3603 – 3608. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3602, initially targets 3606 – 3608 zone.
2.) Price sustains an offer below 3602, initially targets 3595 – 3592 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3578 PVA Low Edge = 3563 Prior POC = 3576
Range Projections and Key Levels (ES) December 2020 (Z) Contract
HOD ATR Range Projection: 3618; LOD ATR Range Projection: 3564; 3 Day Central Pivot: 3565; 3 Day Cycle Target: 3608; 10 Day Average True Range 44; VIX: 22
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price has pushed higher during overnight trade action, but is still well within prior Value Zone. CD1 Average Decline measures 11688 handle. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 11995 PVA Low Edge = 11869 Prior POC = 11896
Bull Scenario: IF Bulls sustain a bid above 11945, THEN initial upside estimate targets 11955 – 11965 zone.
Bear Scenario: IF Bears sustain an offer below 11945, THEN initial downside estimate targets 11930 – 11925 zone.
Range Projections and Key Levels (NQ) December 2020 (Z) Contract
HOD ATR Range Projection: 12088; LOD ATR Range Projection: 11800; 3 Day Central Pivot: 11925; 3 Day Cycle Target: 12000; 10 Day Average True Range: 179; 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