Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 Consumer Price Index
10:00 Atlanta Fed’s Business Inflation Expectations
1:00 PM Results of $38B, 10-Year Note Auction
2:00 PM Treasury Budget
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 2 (CD2): Price consolidation during Globex Session led to continuation rally during RTH Session fulfilling CD2 Penetration Objective. Late day profit-taking pushed price to close near Value Area Low (3871). Range was 75 handles on 1.627M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Cycle Targets have been fulfilled, so as such the decline can begin at any time. We’ll mark today as a “wild-card”, as price is free to move in any direction. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3875, initially targets 3890 – 3900 zone.
2.) Price sustains an offer below 3875, initially targets 3865 – 3860 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle 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 3 (CD3)
PVA High Edge = 3901 PVA Low Edge = 3871 Prior POC = 3898
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3940; LOD ATR Range Projection: 3799; 3 Day Central Pivot: 3835; 3 Day Cycle Target: 3865; 10 Day Average True Range 84; VIX: 23
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Cycle Target (12595) has been exceeded. Prior range was 541 handles on 629k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12867 PVA Low Edge = 12609 Prior POC = 12788
Bull Scenario: IF Bulls sustain a bid above 12750, THEN initial upside estimate targets 12800 – 12825 zone.
Bear Scenario: IF Bears sustain an offer below 12750, THEN initial downside estimate targets 12700 – 12675 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 13126; LOD ATR Range Projection: 12404; 3 Day Central Pivot: 12547; 3 Day Cycle Target: 12595; 10 Day Average True Range: 423; 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.”
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