Markets
Source: SeekingAlpha.com
Economic Calendar
10:00 Wholesale Inventories (Preliminary)
1:00 PM Results of $37B, 10-Year Bond Auction
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
10:30 EIA Petroleum Inventories
S&P 500
***Written Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Prior Session was Cycle Day 1 (CD1): Shallow decline lead to bulls controlling the RTH Session, closing near daily highs. Range was 67 handles on 1.420M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Bullish momentum may carry into today’s session, with the key upper range converting 4520 – 4525 zone. Failure to accomplish a sustained breakout out higher would potentially usher in a reversal back to the 5-day midpoint range (4495). As such, estimated scenarios to consider for today’s trading.
1.) Price sustains bid above 4520, initially targets 4542 – 4552 zone.
2.) Price sustains offer below 4520, initially targets 4508 – 4495 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 2 (CD2)
PVA High Edge = 4520 PVA Low Edge = 4478 Prior POC = 4512
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4622; LOD ATR Range Projection: 4449; 3 Day Central Pivot: 4492; 3 Day Cycle Target: 4492; 10 Day Average True Range 104; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is extending this cycle’s rally pushing into CD3 upper Penetration Zone between 14937 – 15013 during overnight trade activity. Prior range was 309 handles on 604k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 14805, THEN initial upside estimate targets 14937 – 15013 zone.
Bear Scenario: IF Bears sustains offer below 14805, THEN initial downside estimate targets 14770 – 14745 zone.
PVA High Edge = 14759 PVA Low Edge = 14555 Prior POC = 14688
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 15240; LOD ATR Range Projection: 14432; 3 Day Central Pivot: 14642; 3 Day Cycle Target: 14820; 10 Day Average True Range: 500; VIX: 20
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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