Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 GDP Q3
8:30 Chicago Fed National Activity Index
8:30 Corporate profits
10:00 Consumer Confidence
10:00 Existing Home Sales
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
10:30 EIA Petroleum Inventories
S&P 500
***Written Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Tuesday’s Session was Cycle Day 3 (CD3): Gap open faded to fill and once that was accomplished, initiative buying reasserted, as trend up day unfolded, settling one-point off high of day. Range was 77 handles on 1.458M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Bullish momentum is anticipated to spill over into this session, with CD1 Penetration Targets measuring 4654 through 4663. Should the downside unfold, then CD1 Average Decline measures 4590. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4643, initially targets 4654 – 4663 zone.
2.) Price sustains an offer below 4643, initially targets 4627 – 4625 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics 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 1 (CD1)
PVA High Edge = 4642 PVA Low Edge = 4592 Prior POC = 4639
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4707; LOD ATR Range Projection: 4560; 3 Day Central Pivot: 4603; 3 Day Cycle Target: 4663; 10 Day Average True Range 85; VIX: 21
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Trend day up unfolded with this future, closing near high of session. Bullish momentum is expected to spill over into today’s activity with upside targets measuring 16018 through 16066. Average Decline for CD1 measures 15652 Prior range was 382 handles on 525k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15987 PVA Low Edge = 15726 Prior POC = 15970
Bull Scenario: IF Bulls sustain a bid above 15987, THEN initial upside estimate targets 16018 – 16066 zone.
Bear Scenario: IF Bears sustain an offer below 15987, THEN initial downside estimate targets 15900 – 15867 zone.
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 16280; LOD ATR Range Projection: 15586; 3 Day Central Pivot: 15775; 3 Day Cycle Target: 16018; 10 Day Average True Range: 398; VIX: 21
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.
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