Markets
Source: SeekingAlpha.com
Economic Calendar
nitial Jobless Claims
10:00 Job Openings and Labor Turnover Survey
10:30 EIA Natural Gas Inventory
1:00 PM Results of $24B, 30-Year Note Auction
4:30 PM Fed Balance Sheet
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 3 (CD3): Having fulfilled cycle objectives, price consolidated its recent gains in a normal balanced session. Range was 60 handles on 1.727M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is for a decline with average measuring 3858.25. Price is currently building on prior session to clear prior high (3916.25), pushing higher achieving CD1 Penetration Level (3927). As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3920, initially targets 3933 – 3938 zone.
2.) Price sustains an offer below 3920, initially targets 3910 – 3900 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3908 PVA Low Edge = 3895 Prior POC = 3898
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3940; LOD ATR Range Projection: 3832; 3 Day Central Pivot: 3865; 10 Day Average True Range 84; VIX: 22
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price has successfully tested and rallied from CD1 Average Decline (12700), currently trading near PH (12993.25). Prior Range was 290 handles on 703k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12835 PVA Low Edge = 12733 Prior POC = 12782
Bull Scenario: IF Bulls sustain a bid above 12933, THEN initial upside estimate targets 13022 – 13096 zone.
Bear Scenario: IF Bears sustain an offer below 12933, THEN initial downside estimate targets 12916 – 12835 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 13126; LOD ATR Range Projection: 12570; 3 Day Central Pivot: 12642; 10 Day Average True Range: 423; VIX: 22
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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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