Stock futures inched between gains and losses overnight following another session that saw the major averages finish in the red across the board. The heavy losses continued to inflict pain on investors spooked by rising bond yields,
8:30 Initial Jobless Claims
8:30 Productivity and Costs
10:00 Factory Orders
10:30 EIA Natural Gas Inventory
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Prior Session was Cycle Day 1 (CD1): It was a “normal” CD1 as price declined, with CD1 Low (3813). Range was 85 handles on 2.143M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is currently below CD1 Low (3813) and has fulfilled Violation Level (3789.75). Normal for CD2 is balancing recent sell-down. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3813, initially targets 3833 – 3848 zone.
2.) Price sustains an offer below 3813, initially targets 3790 – 3780 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3864 PVA Low Edge = 3833 Prior POC = 3848
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3843; LOD ATR Range Projection: 3755; 3 Day Central Pivot: 3965; 3 Day Cycle Target: 3873; 10 Day Average True Range 65; VIX: 26
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is currently trading below CD1 Low (12633.25) and has fulfilled Violation Level (12579). Prior Range was 528 handles on 742k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13052 PVA Low Edge = 12732 Prior POC = 12856
Bull Scenario: IF Bulls sustain a bid above 12663, THEN initial upside estimate targets 12744 – 12853 zone.
Bear Scenario: IF Bears sustain an offer below 12663, THEN initial downside estimate targets 12600 – 12540 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 12862; LOD ATR Range Projection: 12358; 3 Day Central Pivot: 13060; 3 Day Cycle Target: 12940; 10 Day Average True Range: 351; 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