Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 International Trade in Goods (Advance)
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
10:00 State Street Investor Confidence Index
11:00 Survey of Business Uncertainty
11:30 Results of $28B, 2-Year FRN Auction
1:00 PM Results of $61B, 5-Year Note Auction
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): This cycle’s rally continued to push higher fulfilling target 4590 outlined in prior DTS 10.25.21 briefing report. Range was 29 handles on 1.211M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Cycle objectives have been fulfilled with price trading near fresh all-time highs. As such the decline could begin at any time, and for many would be welcomed. We’ll mark this session as a “wild-card” as BTFD strategies continue to be successful. So, until the powers at work decide to shift gears, we’ll ride their trading coattails. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4558, initially targets 4575 – 4580 zone.
2.) Price sustains an offer below 4558, initially targets 4548 – 4542 zone.
*****The 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 3 (CD3)
PVA High Edge = 4580 PVA Low Edge = 4563 Prior POC = 4575
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4585; LOD ATR Range Projection: 4538; 3 Day Central Pivot: 4552; 3 Day Cycle Target: 4577; 10 Day Average True Range 38; VIX: 16
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is consolidating near the lower end of previous value area (15520) during overnight activity. Prior range was 198 handles on 575k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15628 PVA Low Edge = 15518 Prior POC = 15566
Bull Scenario: IF Bulls sustain a bid above 15520, THEN initial upside estimate targets 15565 – 15600 zone.
Bear Scenario: IF Bears sustain an offer below 15520, THEN initial downside estimate targets 15465 – 15445 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 15685; LOD ATR Range Projection: 15414; 3 Day Central Pivot: 15465; 3 Day Cycle Target: 15511; 10 Day Average True Range: 178; VIX: 16
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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