Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 Import/Export Prices
12:00 PM Jerome Powell Speech
2:00 PM Fed’s Beige Book
2:30 PM Fed’s Williams Speech
3:45 PM Fed’s Clarida Speech
4:00 PM Fed’s Bostic: “Redesigning Cities to Tackle Systemic Racism”
6:05 PM Fed’s Kaplan Speech
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 consolidated throughout the session before pushing higher to All-Time Contract High. Price settled above its Value Area High (4132.25). Range was 38.50 handles on 1.040M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is an expectation of a decline measuring an average of 4087.Volatility Index (VIX) has registered a reading with a 16 handle, as bulls are solidly in control, so any decline may be relatively shallow. As such estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4132, initially targets 4140 – 4144 zone.
2.) Price sustains an offer below 4132, initially targets 4124 – 4115 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 = 4132 PVA Low Edge = 4124 Prior POC = 4115
Range Projections and Key Levels (ES) June 2021 (M) Contract
HOD ATR Range Projection: 4110; LOD ATR Range Projection: 4021; 3 Day Central Pivot: 4026; 3 Day Cycle Target: 4125; 10 Day Average True Range 46; VIX: 16.70
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Expectation for this cycle day is a decline with average measuring 13695. continued consolidation within two-day Value Zone between 13262 – 13540. Prior range was 131 handles on 451k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13967 PVA Low Edge = 13866 Prior POC = 13933
Bull Scenario: IF Bulls sustain a bid above 13933, THEN initial upside estimate targets 13994 – 14023 zone.
Bear Scenario: IF Bears sustain an offer below 13933, THEN initial downside estimate targets 13866 – 13835 zone.
Range Projections and Key Levels (NQ) June 2021 (M) Contract
HOD ATR Range Projection: 13802; LOD ATR Range Projection: 13359; 3 Day Central Pivot: 13370; 3 Day Cycle Target: 13888; 10 Day Average True Range: 226; VIX: 16.70
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.”
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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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