Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 Consumer Price Index
10:00 Atlanta Fed’s Business Inflation Expectations
10:00 Wholesale Inventories (Preliminary)
10:30 EIA Petroleum Inventories
1:00 PM Results of $41B, 10-Year Note Auction
2:00 PM Jerome Powell Speech
2:00 PM Treasury Statement
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
10:30 EIA Petroleum Inventories
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 consolidated throughout the session but with buyers still aggressively responding on the dips. Value continues to shift higher with new all-time highs this week. Range was 18.25 handles on 861k contracts exchanged with a marked decrease in both metrics.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is for some magnitude decline, with the average measuring 3885. Having closed near the high of the day, momentum may push price higher before the decline starts. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3910, initially targets 3920 – 3922 zone.
2.) Price sustains an offer below 3910, initially targets 3900 – 3885 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 1 (CD2)
PVA High Edge = 3909 PVA Low Edge = 3901 Prior POC = 3906
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3964; LOD ATR Range Projection: 3866; 3 Day Central Pivot: 3895; 3 Day Cycle Target: 3924; 10 Day Average True Range 58; VIX: 21
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is trading above prior range during pre-RTH trading. Prior range was 279 handles on 483k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13705 PVA Low Edge = 13665 Prior POC = 13695
Bull Scenario: IF Bulls sustain a bid above 13735, THEN initial upside estimate targets 13770 – 13790 zone.
Bear Scenario: IF Bears sustain an offer below 13735, THEN initial downside estimate targets 13705 – 13670 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 13914; LOD ATR Range Projection: 13535; 3 Day Central Pivot: 13644; 3 Day Cycle Target: 13764; 10 Day Average True Range: 235; VIX: 21
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.”
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