Markets

Source: SeekingAlpha.com

Economic Calendar

https://www.investing.com/economic-calendar/

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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 1 (CD1): Price recovered it’s prior session losses as trend day down (CD3), was replaced with trend day up (CD1). Market does not appear to have a consensus of value, given a multi-modal profile pattern. Range was 76.25 handles on 1.812M contracts exchanged.

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2 (CD2): Price has recovered back up to 3 Day Central Pivot Zone (4313-4321) during prior session. Normal for CD2 is for some balancing recent down and up back-to-back trend days, in search of accepted value consensus. We anticipate this process may take several sessions to be worked out. As such, estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4310, initially targets 4330 – 4345 zone. 

2.) Price sustains an offer below 4310, initially targets 4285 – 4280 zone.

*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics 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 = 4329       PVA Low Edge = 4280         Prior POC = 4317

Range Projections and Key Levels (ES) Sept 2021 (U) Contract

HOD  ATR Range Projection: 4362; LOD ATR Range Projection: 4286; 3 Day Central Pivot: 4300; 3 Day Cycle Target: 4307; 10 Day Average True Range  52; VIX: 19.50

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Price rebounded in prior session, erasing the recent losses. Normal for CD2 is for some ‘back n fill’ price action to balance out recent swings. Prior range was  266 handles on 521k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 14714       PVA Low Edge = 14517      Prior POC = 14608

Bull Scenario: IF Bulls sustain a bid above 14660, THEN initial upside estimate targets 14714 – 14745 zone.

Bear Scenario: IF Bears sustain an offer below 14660, THEN initial downside estimate targets 14630 – 14610 zone.

Range Projections and Key Levels (NQ) Sept 2021 (U) Contract

HOD  ATR Range Projection: 14860; LOD ATR Range Projection: 14574; 3 Day Central Pivot: 14660; 3 Day Cycle Target: 14765; 10 Day Average True Range: 192; VIX: 19.50

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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