Markets
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
***Written Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined establishing a Low at 3837.25. Prior range was 63 handles on 975k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is for consolidation of recent trading range activity. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3870, initially targets 3895 – 3900 zone.
Bear Scenario: Price sustains an offer below 3850, initially targets 3830 – 3825 zone.
PVA High Edge = 3870 PVA Low Edge = 3850 Prior POC = 3857
*****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 2 (CD2)
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 3942; LOD ATR Range Projection: 3778; 3 Day Central Pivot: 3655; 3 Day Cycle Target: 3955; 10 Day Average True Range 91; VIX: 21
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Normal for CD2 is for consolidation of recent trading range activity. 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 10955, THEN initial upside estimate targets 10980– 11000 zone.
Bear Scenario: IF Bears sustains offer below 10895, THEN initial downside estimate targets 10855 – 10835 zone.
PVA High Edge = 10985 PVA Low Edge = 10912 Prior POC = 10925
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 11224; LOD ATR Range Projection: 10622; 3 Day Central Pivot: 11046; 3 Day Cycle Target: 11390; 10 Day Average True Range: 333; 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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