Markets
Source: SeekingAlpha.com
Economic Calendar
1:00 PM Results of $58B, 3-Year Note Auction
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 2 (CD2): Price action was more balanced as normal CD2 unfolded, with upside lean into the closing rotation. Range was 44.25 handles on 1.493M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Cycle Target Objectives have been fulfilled, as price has pulled back during overnight trade action. Key for the bulls in coming days is to hold the 3 Day Central Pivot Zone to keep the uptrend intact. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3795, initially targets 3808 – 3818 zone.
2.) Price sustains an offer below 3795, initially targets 3780 – 3775 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3818 PVA Low Edge = 3800 Prior POC = 3808
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3838; LOD ATR Range Projection: 3773; 3 Day Central Pivot: 3773; 3 Day Cycle Target: 3807; 10 Day Average True Range 48; VIX: 23.60
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently trading within prior value zone during overnight trade action. Prior range was 185.50 handles on 490k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13060 PVA Low Edge = 12987 Prior POC = 13007
Bull Scenario: IF Bulls sustain a bid above 13010, THEN initial upside estimate targets 13060 – 13090 zone.
Bear Scenario: IF Bears sustain an offer below 13010, THEN initial downside estimate targets 12985 – 12960 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 13190; LOD ATR Range Projection: 12919; 3 Day Central Pivot: 12850; 3 Day Cycle Target: 12916; 10 Day Average True Range: 186; VIX: 23.60
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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