Trade Strategy 4.28.21

Markets

Wait-and-see

Major averages traded around the flatline on Tuesday, and similar sentiment was seen overnight. Dow and Nasdaq futures dipped 0.2%, while contracts linked to the S&P were marginally higher. Traders appear to be in wait-and-see mode before the big Fed meeting, as well as the latest slew of corporate earnings.

Source: SeekingAlpha.com

Economic Calendar

8:30 International Trade in Goods (Advance)
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
10:00 State Street Investor Confidence Index

2:00 PM FOMC Announcement
2:00 PM Chairman Press Conference

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 1 (CD1): This day was a normal CD1 as price failed to sustain bid above prior high, then declined, testing “key support zone” (4168 – 4170). Range was 25.75 handles on 962k contracts exchanged.

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2 (CD2): With recent price oscillations back n forth between key levels, we’ll mark Line in Sand (LIS) today at 4175, which splits various zones approximately in half. Also, earnings releases are in high gear, so price can roam as it will without much resistance in either direction. As such, estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4175, initially targets 4190 – 4195 zone.

2.) Price sustains an offer below 4175, initially targets 4165 – 4160 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 2 (CD2)

PVA High Edge = 4183       PVA Low Edge = 4174         Prior POC = 4182

Range Projections and Key Levels (ES) June 2021 (M) Contract

HOD  ATR Range Projection: 4215; LOD ATR Range Projection: 4148; 3 Day Central Pivot: 4173; 3 Day Cycle Target: 4200; 10 Day Average True Range  38; VIX: 17

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…We’ll mark today’s Line in the Sand (LIS) 13952 as earnings releases from Tech companies dominate the “thematic-landscape” this week. Prior range was 137.50 handles on 406k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 13975       PVA Low Edge = 13932      Prior POC = 13962

Bull Scenario: IF Bulls sustain a bid above 13952, THEN initial upside estimate targets 13985 – 13995 zone.

Bear Scenario: IF Bears sustain an offer below 13952, THEN initial downside estimate targets 13925 – 13910 zone.

Range Projections and Key Levels (NQ) June 2021 (M) Contract

HOD  ATR Range Projection: 14094; LOD ATR Range Projection: 13790; 3 Day Central Pivot: 13943; 3 Day Cycle Target: 14011; 10 Day Average True Range: 190; VIX: 17

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


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