Markets
Stock index futures are pointing to gains as traders mull the stimulus plans: Dow +0.6%; S&P 500 +0.8%; Nasdaq +1%.
Source: SeekingAlpha.com
Economic Calendar
4:00 PM Treasury International Capital
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 2 (CD2): Shortened holiday session saw price drift higher, closing near high of day. Range was 28.50 handles on 152k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): 3-Day Cycle Statistic (see below) has been fulfilled, as price achieved CD3 Penetration Level Target (3789.50). As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3790, initially targets 3800 – 3805 zone.
2.) Price sustains an offer below 3790, initially targets 3780 – 3775 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3763 PVA Low Edge = 3749 Prior POC = 3754
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3810; LOD ATR Range Projection: 3754; 3 Day Central Pivot: 3790; 3 Day Cycle Target: 3809; 10 Day Average True Range 42; VIX: 23
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently trading near highs of overnight session.Prior range was 89.75 handles on 67k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12814 PVA Low Edge = 12772 Prior POC = 12810
Bull Scenario: IF Bulls sustain a bid above 12918, THEN initial upside estimate targets 12940 – 12955 zone.
Bear Scenario: IF Bears sustain an offer below 12918, THEN initial downside estimate targets 12890 – 12865 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 12993; LOD ATR Range Projection: 12767; 3 Day Central Pivot: 12849; 3 Day Cycle Target: 13022; 10 Day Average True Range: 182; VIX: 23
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