8:30 Initial Jobless Claims
8:30 International Trade
9:00 Fed’s Harker: Economic Outlook
10:00 ISM Service Index
10:30 EIA Natural Gas Inventory
12:00 PM Fed’s Bullard: U.S. Economy and Monetary Policy
1:00 PM Fed’s Evans Speech
3:00 PM Fed’s Daly Speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 3 (CD3): 3 Day Cycle completed in spectacular fashion, exceeding all statistical objectives during morning session. Price fell back mid-afternoon as violence outbreak at the Nation’s Capitol temporarily rattled traders. Range was 89.25 handles on 2.069M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is some magnitude decline, with average measuring 3725. Overnight price is stabilizing following yesterday’s trend up session. Bulls remain in control, although we could see plenty of range trade. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3760, initially targets 3775 – 3785 zone.
2.) Price sustains an offer below 3760, initially targets 3745 – 3740 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3774 PVA Low Edge = 3733 Prior POC = 3741
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3783; LOD ATR Range Projection: 3732; 3 Day Central Pivot: 3717; 3 Day Cycle Target: 3807; 10 Day Average True Range 42; VIX: 23
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is trading within prior session’s value zone. Prior Range was 353 handles on 742k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12729 PVA Low Edge = 12546 Prior POC = 12618
Bull Scenario: IF Bulls sustain a bid above 12730, THEN initial upside estimate targets 12760 – 12780 zone.
Bear Scenario: IF Bears sustain an offer below 12730, THEN initial downside estimate targets 12775 – 12745 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 12805; LOD ATR Range Projection: 12603; 3 Day Central Pivot: 12710; 3 Day Cycle Target: 12916; 10 Day Average True Range: 159; VIX: 23
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