Markets
U.S. stock index futures are holding their breath after coming off a record-setting session on Thursday, which saw all three of the major averages close at new highs.
Source: SeekingAlpha.com
Economic Calendar
8:30 Current Account
10:00 Leading Indicators
11:10 Fed’s Evans Speech
11:10 Fed’s Brainard Speech
1:00 PM Baker-Hughes Rig Count
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 3 (CD3): Having fulfilled projected cycle objectives, price took a breather yesterday. oscillating back n forth, producing a Neutral Day. Range was 25.50 handles on 1.074M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is some magnitude decline, with average measuring 3669. Overnight price holding near PH (3717.50). As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3717, initially targets 3727 – 3732 zone.
2.) Price sustains an offer below 3717, initially targets 3707 – 3700 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3714 PVA Low Edge = 3707 Prior POC = 3712
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3734; LOD ATR Range Projection: 3688; 3 Day Central Pivot: 3690; 3 Day Cycle Target: 3732; 10 Day Average True Range 35; VIX: 22
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is trading above prior session’s value zone. Prior Range was 95 handles on 359k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12740 PVA Low Edge = 12709 Prior POC = 12728
Bull Scenario: IF Bulls sustain a bid above 12750, THEN initial upside estimate targets 12770 – 12780 zone.
Bear Scenario: IF Bears sustain an offer below 12750, THEN initial downside estimate targets 12740 – 12730 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 12865; LOD ATR Range Projection: 12620; 3 Day Central Pivot: 12642; 3 Day Cycle Target: 12800; 10 Day Average True Range: 158; 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.
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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