8:30 Personal Income and Outlays
8:30 Employment Cost Index
9:45 Chicago PMI
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
3:00 PM Farm Prices
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 1 (CD1): Cycle low was established early in session, which was followed by strong rally fulfilling range target (4588). Range was 44 handles on 1.152M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is for back n fill consolidation to absorb recent rally gains. Price is currently trading near 5-day POC (4565). As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4565, initially targets 4575 – 4580 zone.
2.) Price sustains an offer below 4565, initially targets 4555 – 4550 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4585 PVA Low Edge = 4565 Prior POC = 4581
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4593; LOD ATR Range Projection: 4541; 3 Day Central Pivot: 4565; 3 Day Cycle Target: 4580; 10 Day Average True Range 34; VIX: 17.50
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is trading lower within 2-day value zone during overnight activity. Normal for Cycle Day 2 would be to consolidate recent gains. Prior range was 185 handles on 493k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15762 PVA Low Edge = 15671 Prior POC = 15738
Bull Scenario: IF Bulls sustain a bid above 15600, THEN initial upside estimate targets 15675 – 15685 zone.
Bear Scenario: IF Bears sustain an offer below 15600, THEN initial downside estimate targets 15560 – 15550 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 15767; LOD ATR Range Projection: 15520; 3 Day Central Pivot: 15620; 3 Day Cycle Target: 15820; 10 Day Average True Range: 172; VIX: 17.50
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