Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 Durable Goods
8:30 Initial Jobless Claims
8:30 Personal Income and Outlays
9:00 FHFA House Price Index
10:00 New Home Sales
10:00 Consumer Sentiment
11:30 Results of $24B, 2-Year FRN Auction
12:00 PM EIA Natural Gas Inventory
10:30 EIA Petroleum Inventories
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
***Written 8 pm Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication
Tuesday’s Session was Cycle Day 3 (CD3): Positive 3 Day Cycle Statistic was fulfilled as price held bid, but no further advancement following Cycle Day 2 sharp decline and recovery rally. Range was 31.25 handles on 1.092M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Core cycle objectives have been fulfilled. Normal for CD1 is decline with an average measuring 3648 handle. IF price can clear 3695 – 3700 zone, THEN bulls have the opportunity to push for higher prices heading into the Christmas Holiday. As Danny Riley (Dboy) says: “Thin To Win”. There are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3680, initially targets 3695 – 3700 zone.
2.) Price sustains an offer below 3680, initially targets 3660 – 3655 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 1 (CD1)
PVA High Edge = 3686 PVA Low Edge = 3676 Prior POC = 3680
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3691; LOD ATR Range Projection: 3650; 3 Day Central Pivot: 3682; 3 Day Cycle Target: 3718; 10 Day Average True Range 41; VIX: 23.50
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Topsy Turvy trading overnight as price reacted to POTUS’ statement regarding COVID Stimulus Bill. Prior Range was 166.50 handles on 454k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12726 PVA Low Edge = 12670 Prior POC = 12695
Bull Scenario: IF Bulls sustain a bid above 12720, THEN initial upside estimate targets 12750 – 12760 zone.
Bear Scenario: IF Bears sustain an offer below 12720, THEN initial downside estimate targets 12695 – 12680 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 12814; LOD ATR Range Projection: 12554; 3 Day Central Pivot: 12677; 3 Day Cycle Target: 12722; 10 Day Average True Range: 184; VIX: 23.50
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!
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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