Markets

Source: SeekingAlpha.com

Economic Calendar

8:30 Housing Starts and Permits
8:55 Redbook Chain Store Sales
1:00 PM Results of $20B, 20-Year Bond Auction

https://www.investing.com/economic-calendar/

***New: PTG Trading Room Chat Log’s Link

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): Normal CD1 unfolded as selling spilled over into this session. establishing a cycle low at 4560. Range was 102 handles on 2.027M, contracts exchanged. 

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2 (CD2): Late day “relief’ bounce has room to extend, though a retest of CD1 Low for surety would be the “norm”, as price is expected to work to balance previous session’s selling momentum. As such, estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4575, initially targets 4585 – 4590 zone. 

2.) Price sustains an offer below 4575, initially targets 4565 – 4560 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 = 4592       PVA Low Edge = 4565         Prior POC = 4586

Range Projections and Key Levels (ES) March 2022 (H) Contract

HOD  ATR Range Projection: 4610; LOD ATR Range Projection: 4512; 3 Day Central Pivot: 4632; 3 Day Cycle Target: 4588; 10 Day Average True Range  75; VIX: 22

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Price is rebounding from prior session’s selling spree, currently trading back within prior value zone (15243 – 15372). Prior range was 432 handles on 745k contracts traded.  As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 15372       PVA Low Edge = 15243     Prior POC = 15295

Bull Scenario: IF Bulls sustain a bid above 15245, THEN initial upside estimate targets 15280 – 15295 zone.

Bear Scenario: IF Bears sustain an offer below 15245, THEN initial downside estimate targets 15203 – 15170 zone.

Range Projections and Key Levels (NQ) March 2022 (H) Contract

HOD  ATR Range Projection: 15454; LOD ATR Range Projection: 14875; 3 Day Central Pivot: 15470; 3 Day Cycle Target: 15280; 10 Day Average True Range: 403; VIX: 22

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.

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.

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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