U.S. equities took a pause on Tuesday, retreating from record highs after an injection of vaccine optimism, though the pullback may prove temporary as futures rose 0.3% overnight.
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Tuesday’s Session was Cycle Day 2 (CD2): True to form for CD2, price successfully tested CD1 Low (3586.50) for surety during morning session, at which time price rallied, fulfilling 3620 3 Day Cycle Target. Remainder of the session price oscillated around the LIS (3608) handle, creating a Neutral Session. Range was 45.75 handles on 1.240M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Cycle price objectives have been fulfilled…As such we’ll mark today as a “wild-card” day, meaning price needs to either break above 2-day value high (3620) or break below 2-day value low (3600) to reestablish a directional bias. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3620, initially targets 3630 – 3643 zone.
2.) Price sustains an offer below 3600, initially targets 3585 – 3575 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic 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 3 (CD3)
PVA High Edge = 3517 PVA Low Edge = 3600 Prior POC = 3608
Range Projections and Key Levels (ES) December 2020 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is trading within prior 2-day value zone during overnight activity. Prior Range was 142.50 handles on 396k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 11898 PVA Low Edge = 11766 Prior POC = 11872
Bull Scenario: IF Bulls sustain a bid above 11990, THEN initial upside estimate targets 12025 – 12040 zone.
Bear Scenario: IF Bears sustain an offer below 11990, THEN initial downside estimate targets 11962 – 11930 zone.
Range Projections and Key Levels (NQ) December 2020 (Z) Contract
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.”
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