Markets
Source: SeekingAlpha.com
Economic Calendar
8:15 ADP Jobs Report
9:45 PMI Services Index
10:00 ISM Non-Manufacturing 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 3 (CD3): Price oscillated throughout the full session creating an “inside-value” normal variation day. Resistance was at 3895 (Line-In-Sand) with Support at 3865 (Overnight Low). Range was 41 handles on 1.598M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Part of the decline is in-place with the CD1 Average Decline measuring 3850. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3895, initially targets 3905 – 3910 zone.
2.) Price sustains an offer below 3895, initially targets 3870 – 3865 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle 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 1 (CD1)
PVA High Edge = 3897 PVA Low Edge = 3878 Prior POC = 3895
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3892; LOD ATR Range Projection: 3855; 3 Day Central Pivot: 3885; 3 Day Cycle Target: 3868; 10 Day Average True Range 40; VIX: 23
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…CD1 Average Decline (13064) was fulfilled during previous session (CD3). Prior range was 280 handles on 556k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13243 PVA Low Edge = 12134 Prior POC = 13185
Bull Scenario: IF Bulls sustain a bid above 13134, THEN initial upside estimate targets 13185 – 13215 zone.
Bear Scenario: IF Bears sustain an offer below 13134, THEN initial downside estimate targets 13095 – 13065 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 13251; LOD ATR Range Projection: 13040; 3 Day Central Pivot: 13350; 3 Day Cycle Target: 13043; 10 Day Average True Range: 224; VIX: 23
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