Markets
U.S. indices closed lower on Thursday, stock index futures are in the green this morning, climbing nearly 1% ahead of the open.
Source: SeekingAlpha.com
Economic Calendar
8:30 Producer Price Index
8:30 Fed’s Bullard: U.S. Economy and Monetary Policy
10:00 Consumer Sentiment
10:30 EIA Natural Gas Inventory
1:00 PM Baker-Hughes Rig Count
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 2 (CD2): Normal CD2 unfolded as price tested both upper and lower end of recent range parameters, finding responsive activity at each edge. Market closed the session with an end of day rally, closing mid-range with a Bi-Modal Profile. Range was 61.50 handles on an 1.656M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Overnight price successfully retested prior lows, then rallied strongly, fulfilling 3563.75 3 Day Cycle Objective. Pre-RTH price is holding firm bid. As such, there are two scenarios to consider for today’s trading.
1.) Price sustains a bid above 3555, initially targets 3565 – 3575 zone
2.) Price sustains an offer below 3555, initially targets 3545 – 3535 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3565 PVA Low Edge = 3528 Prior POC = 3554
Range Projections and Key Levels (ES) December 2020 (Z) Contract
HOD ATR Range Projection: 3592; LOD ATR Range Projection: 3495; 3 Day Central Pivot: 3547; 3 Day Cycle Target: 3563.75; 10 Day Average True Range 74; VIX: 24
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price has rallied during overnight trade fulfilling 11935 3 Day Cycle Price Objective As such, there are two scenarios to consider for today’s trading.
PVA High Edge = 11908 PVA Low Edge = 11787 Prior POC = 11807
Bull Scenario: IF Bulls sustain a bid above 11905, THEN initial upside estimate targets 11935 – 11955 zone.
Bear Scenario: IF Bears sustain an offer below 11905, THEN initial downside estimate targets 11875 – 11855 zone.
Range Projections and Key Levels (NQ) December 2020 (Z) Contract
HOD ATR Range Projection: 12138; LOD ATR Range Projection: 11603; 3 Day Central Pivot: 11781; 3 Day Cycle Target: 11935; 10 Day Average True Range: 334; VIX: 24
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.
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