Investors this morning will get a better picture on the financial standing of the economy as the biggest U.S. banks publish their quarterly results.
8:30 Retail Sales
8:30 Import/Export Prices
9:15 Industrial Production
10:00 Business Inventories
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 1 (CD1): Normal CD1 unfolded as selling spilled over into this session. establishing a cycle low at 4642.50. Range was 94 handles on 1.771M, contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price has violated CD1 Low (4642.50) and has tagged the initial Violation Low (4627.25) during overnight activity. End of week threatens back to back negative weekly closes as “risk-off” gains momentum. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4627, initially targets 4639 – 4647 zone.
2.) Price sustains an offer below 4627, initially targets 4617 – 4602 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4734 PVA Low Edge = 4681 Prior POC = 4715
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4682; LOD ATR Range Projection: 4602; 3 Day Central Pivot: 4692; 3 Day Cycle Target: 4709; 10 Day Average True Range 65; VIX: 21
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Selling has spilled over into this session as “risk-off” in the tech sector gains momentum. Microsoft (MSFT) had its worse trading day is recent memory. Prior range was 516.50 handles on 878k contracts traded. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15979 PVA Low Edge = 15650 Prior POC = 15951
Bull Scenario: IF Bulls sustain a bid above 15458, THEN initial upside estimate targets 15498 – 15528 zone.
Bear Scenario: IF Bears sustain an offer below 15458, THEN initial downside estimate targets 15392 – 15362 zone.
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 15672; LOD ATR Range Projection: 15194; 3 Day Central Pivot: 15748; 3 Day Cycle Target: 15777; 10 Day Average True Range: 3360; VIX: 21
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!
“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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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