8:30 International Trade in Goods (Advance)
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
9:00 S&P CoreLogic Case-Shiller Home Price Index
9:00 FHFA House Price Index
10:30 Dallas Fed Manufacturing Survey
1:00 PM Results of $42B, 2-Year Note Auction
1:00 PM Money Supply
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 3 (CD3): Price begrudgingly moved higher during this session notching a positive cycle statistic just in-time for long Xmas holiday weekend. Prior range was 51 handles on 1.332M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 3797. Normal for CD1 is a decline to find a new secure cycle low. Overnight and pre-RTH price is slightly higher in quiet narrow range. Will the Santa Claus Rally take flight? Or be grounded by the “bitter-cold” risk-off sentiment? As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3875, initially targets 3895 – 3900 zone.
Bear Scenario: Price sustains an offer below 3875, initially targets 3860 – 3855 zone.
PVA High Edge = 3871 PVA Low Edge = 3848 Prior POC = 3960
Range Projections and Key Levels (ES) March 2023 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline for CD1 measures 10833. Normal for CD1 is a decline to find a new secure cycle low. Overnight and pre-RTH price is slightly higher in quiet narrow range. Will the Santa Claus Rally take flight? Or be grounded by the “bitter-cold” risk-off sentiment? As such, estimated scenarios to consider for today’s trading. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11100, THEN initial upside estimate targets 11170– 11185 zone.
Bear Scenario: IF Bears sustains offer below 11100, THEN initial downside estimate targets 11030 – 11020 zone.
PVA High Edge = 11082 PVA Low Edge = 11007 Prior POC = 11042
Range Projections and Key Levels (NQ) March 2023 (H) 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.”
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.
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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