Markets

Source: SeekingAlpha.com

Economic Calendar

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 continued to power higher surpassing even the most bullish cycle range target. (MOC) was a $3.2 billion sell imbalance. Range was 110 handles on 1.672M contracts exchanged. 

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Momentum favors the bulls, so ball control is theirs to lose. Since cycle objectives have been fulfilled and surpassed, momentum may push price higher, but failure to sustain a bid above Prior High (4697) may attract  a deeper pullback to find renewed buy response. As such, estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4697, initially targets 4712 – 4715 zone. 

2.) Price sustains an offer below 4697, initially targets 4683 – 4680 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 = 4693       PVA Low Edge = 4672        Prior POC = 4686

Range Projections and Key Levels (ES) December 2021 (Z) Contract

HOD  ATR Range Projection: 4769; LOD ATR Range Projection: 4624; 3 Day Central Pivot: 4594; 3 Day Cycle Target: 4600; 10 Day Average True Range  87; VIX: 21.75

Nasdaq 100 (NQ)

Today is Cycle Day 3 (CD3)…Price has rallied overnight fulfilling CD3 Penetration target zone (16408 – 16432). Prior range was 550 handles on 581k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 16344       PVA Low Edge = 16174     Prior POC = 16293

Bull Scenario: IF Bulls sustain a bid above 16374, THEN initial upside estimate targets 16408 – 16432 zone.

Bear Scenario: IF Bears sustain an offer below 16374, THEN initial downside estimate targets 16320 – 16295 zone.

Range Projections and Key Levels (NQ) December 2021 (Z) Contract

HOD  ATR Range Projection: 16720; LOD ATR Range Projection: 16045; 3 Day Central Pivot: 15916; 3 Day Cycle Target: 15864; 10 Day Average True Range: 392; VIX: 21.75

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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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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