Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 Retail Sales
8:30 Empire State Mfg Survey
9:15 Industrial Production
10:00 Business Inventories
10:00 NAHB Housing Market Index
10:00 Atlanta Fed’s Business Inflation Expectations
1:00 PM Results of $15B, 20-Year Bond Auction
4:00 PM Treasury International Capital
https://www.investing.com/economic-calendar/
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 2 (CD2): Normal CD2 as CPI print gyrated price between TargetMaster’s upper and lower statistical 2-Sigma Zones. Session settlement had price trading near the upper 3 Day Cycle Target.(4158). Prior range was 82 handles on 2.316M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): We’ll mark today as a “wild-card” as price is near to fulfilling cycle target and has safely secured positive cycle statistic. We would still anticipate continued oscillations between range parameters (4125 – 4175). As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4150, initially targets 4170 – 4175 zone.
Bear Scenario: Price sustains an offer below 4150, initially targets 4125 – 4120 zone.
PVA High Edge = 4156 PVA Low Edge = 4125 Prior POC = 4145
*****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)
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 4192; LOD ATR Range Projection: 4070; 3 Day Central Pivot: 4119; 3 Day Cycle Target: 4158; 10 Day Average True Range 69; VIX: 19
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…We’ll mark today as a “wild-card” as price is near to fulfilling cycle target and has safely secured positive cycle statistic. We would still anticipated continued oscillations between range parameters (12475 – 12695). As such, scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12620, THEN initial upside estimate targets 12680– 12695 zone.
Bear Scenario: IF Bears sustains offer below 12620, THEN initial downside estimate targets 12550 – 12535 zone.
PVA High Edge = 12653 PVA Low Edge = 12503 Prior POC = 12590
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 12853; LOD ATR Range Projection: 12302; 3 Day Central Pivot: 12456; 3 Day Cycle Target: 12640; 10 Day Average True Range: 322; VIX: 19
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