Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 Consumer Price Index
10:00 Atlanta Fed’s Business Inflation Expectations
1:00 PM Results of $24B, 30-Year Note Auction
2:00 PM Treasury Budget
9:30 Fed’s Bullard: U.S. Economy and Monetary Policy
1:00 PM Fed’s Brainard: “The Economic Outlook and Full Employment”
2:00 PM Fed’s Harker: Economic Outlook
3:00 PM Fed’s Clarida Speech
10:30 EIA Petroleum Inventories
***New: PTG Trading Room Chat Log’s Link
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): Most of the session was of the moderately choppy variety, as it was an “inside-inside” value type day. Price did eventually decline to the projected CD1 Average Decline Target (3772) before rallying back fulfilling Average Rally Target (3792.75). Range was 38.75 handles on 1.195M 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 potentially more consolidation activity before breaking out directionally. There are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3800, initially targets 3810 – 3820 zone.
2.) Price sustains an offer below 3785, initially targets 3775 – 3770 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive 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 = 3804 PVA Low Edge = 3794 Prior POC = 3800
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3833; LOD ATR Range Projection: 3756; 3 Day Central Pivot: 3796; 3 Day Cycle Target: 3830; 10 Day Average True Range 49; VIX: 24
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is currently trading within prior value zone during GLOBEX Session. Prior range was 192 handles on 457k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12930 PVA Low Edge = 12865 Prior POC = 12884
Bull Scenario: IF Bulls sustain a bid above 12930, THEN initial upside estimate targets 13000 – 13038 zone.
Bear Scenario: IF Bears sustain an offer below 12855, THEN initial downside estimate targets 12800 – 12765 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 12650; LOD ATR Range Projection: 12686; 3 Day Central Pivot: 12775; 3 Day Cycle Target: 12815; 10 Day Average True Range: 159; VIX: 24
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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