8:30 Durable Goods
8:30 GDP Q4
8:30 Initial Jobless Claims
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
1:00 PM Results of $53B, 7-Year Note Auction
4:30 PM Fed Balance Sheet
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 1 (CD1): Morning Session buyers could not hold bid as FED Day selling dominated throughout the Afternoon Session. CD1 Low was established at 4294.25. Prior range was 152 handles on 2.362M, contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Overnight follow-through selling has reversed direction and price is in “rally-mode” currently trading near 4350 handle. Broader 200 handle trading range is developing between 4420 – 4220. Volatility remains elevated as intra-day swings are being magnified as Average True Range (10) is 115 handles. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4367, initially targets 4384 – 4406 zone.
2.) Price sustains an offer below 4367, initially targets 4345 – 4335 zone.
PVA High Edge = 4446 PVA Low Edge = 4358 Prior POC = 4413
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4378; LOD ATR Range Projection: 4252; 3 Day Central Pivot: 4346; 3 Day Cycle Target: 4370; 10 Day Average True Range 115; VIX: 30
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price has reversed early overnight selling and is currently trading back within prior value zone. Prior range was 694 handles on 891k contracts traded. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 14622 PVA Low Edge = 14258 Prior POC = 14440
Bull Scenario: IF Bulls sustain a bid above 14258, THEN initial upside estimate targets 14360 – 14380 zone.
Bear Scenario: IF Bears sustain an offer below 14258, THEN initial downside estimate targets 14200 – 14165 zone.
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 14368; LOD ATR Range Projection: 13757; 3 Day Central Pivot: 14204; 3 Day Cycle Target: 14320; 10 Day Average True Range: 525; VIX: 30
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.
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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