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.
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***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
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
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.”
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