Markets
Source: SeekingAlpha.com
Economic Calendar
10:00 Job Openings and Labor Turnover Survey
1:00 PM Results of $34B, 10-Year Note Auction
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
10:30 EIA Petroleum Inventories
Calling the sanction “another powerful blow to Putin’s war machine,” President Biden has announced a U.S. ban on Russian oil imports, as well as natural gas and other energy sources. About 8% of American imports of oil and refined products, or about 672K barrels a day, came from Russia last year, according to the Energy Information Administration. Crude continues to soar on the news, while the national average for a gallon of gas has hit $4.25 per gallon, up from $3.65 only a week ago
Source: http://Investing.com
S&P 500
***Written Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Prior Session was Cycle Day 3 (CD3): ES traded back and forth in a volatile session marked by 50 handle swings. 3 Day Cycle objectives failed to deliver. Range was 136 handles on 2.260M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Today begins a new cycle, with the Average Decline measuring the 4171 – 4164 zone, which has been fulfilled, so this cycle’s rally can begin at any time. Expectation remains intact for continued volatility during this session and for the foreseeable future. Best to control your trade risk and focus only on your Triple A Trade (TAT). As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 4200, initially targets 4248 – 4251 zone.
Bear Scenario: Price sustains offer below 4200, initially targets 4175 – 4165 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 1 (CD1)
PVA High Edge = 4217 PVA Low Edge = 4161 Prior POC = 4188
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4282; LOD ATR Range Projection: 4116; 3 Day Central Pivot: 4249; 3 Day Cycle Target: 4251; 10 Day Average True Range 130; VIX: 32
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is trading higher during overnight activity back into 3 Day Central Pivot Zone (13497 – 13560). Average Decline for CD1 measures 13115. Prior range was 563 handles on 827k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13475, THEN initial upside estimate targets 13560 – 13610 zone.
Bear Scenario: IF Bears sustains offer below 13475, THEN initial downside estimate targets 13776 – 13323 zone.
PVA High Edge = 13376 PVA Low Edge = 13149 Prior POC = 13301
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 13727; LOD ATR Range Projection: 13037; 3 Day Central Pivot: 13560; 3 Day Cycle Target: 13658; 10 Day Average True Range: 537; VIX: 32
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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CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN