Markets
Alphabet earnings boost Nasdaq
U.S. stock index futures are moving into the green for a third day, powered by strong tech earnings, stimulus progress and a broader vaccine rollout. Nasdaq is leading the pack, with contracts linked to the index ahead by 0.7%, on strong quarterly results from Amazon and Google.
Source: SeekingAlpha.com
Economic Calendar
8:15 ADP Jobs Report
9:45 PMI Composite Final
10:00 ISM Service Index
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
10:30 EIA Petroleum Inventories
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 1 (CD1): Price gapped up on the open as the Trade Vic Gap Rule (TVGR) took control. Trend day tendencies drove price higher to fulfill and exceed 3 Day Cycle Objective (3822.75). Range was 75.75 handles on 1.381M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): 3 Day Cycle Statistic has been fulfilled, so momentum may still carry price higher, though we will be anticipating more of a consolidation type day, to provide for absorption of recent gains. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3830, initially targets 3840 – 3850 zone.
2.) Price sustains an offer below 3830, initially targets 3820 – 3810 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 2 (CD2)
PVA High Edge = 3835 PVA Low Edge = 3815 Prior POC = 3830
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3887; LOD ATR Range Projection: 3782; 3 Day Central Pivot: 3754; 3 Day Cycle Target: 3823; 10 Day Average True Range 62; VIX: 25
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is trading above prior range during pre-RTH trading. Prior range was 279 handles on 483k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13490 PVA Low Edge = 13385 Prior POC = 13470
Bull Scenario: IF Bulls sustain a bid above 13510, THEN initial upside estimate targets 13550 – 13585 zone.
Bear Scenario: IF Bears sustain an offer below 13510, THEN initial downside estimate targets 13470 – 13450 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 13750; LOD ATR Range Projection: 13310; 3 Day Central Pivot: 13156; 3 Day Cycle Target: 13508; 10 Day Average True Range: 274; VIX: 25
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.
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.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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