10:00 Existing Home Sales
10:00 E-Commerce Retail Sales
10:00 Leading Indicators
10:00 Quarterly Services Report
1:00 PM Baker-Hughes Rig Count
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 2 (CD2): Risk-Off was this cycle day’s theme, as “real money” sellers hit the tape throughout the session, capping the day with $3.5B MOC Sell Imbalance. Range was 108 handles on 1.576M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is currently trading below CD1 Low (4422.75) pre-RTH. Odds typically favor recovering back above during today’s session. Options Expiration is expected to be an influence throughout today’s activity. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4400, initially targets 4415 – 4423 zone.
2.) Price sustains an offer below 4400, initially targets 4385 – 4380 zone.
PVA High Edge = 4419 PVA Low Edge = 4368 Prior POC = 4375
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4453; LOD ATR Range Projection: 4327; 3 Day Central Pivot: 4432; 3 Day Cycle Target: 4458; 10 Day Average True Range 85; VIX: 26
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently trading below CD1 Low (14381) during overnight activity. Odds favor recovery during this session. Options expiration, coupled with geo-political tensions, are expected to be the main drivers to end the week. Prior range was 488 handles on 623k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustain a bid above 14255, THEN initial upside estimate targets 14300 – 14350 zone.
Bear Scenario: IF Bears sustain an offer below 14255, THEN initial downside estimate targets 14225 – 14200 zone.
PVA High Edge = 14452 PVA Low Edge = 14136 Prior POC = 14355
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 14524; LOD ATR Range Projection: 13903; 3 Day Central Pivot: 14440; 3 Day Cycle Target: 14809; 10 Day Average True Range: 396; VIX: 26
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.
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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