Markets struggled to find direction yesterday, with stocks jumping earlier in the session, but closing just below the flatline. “Low volatility, flat equities, declining U.S. Treasury yields, and low trading volumes.
10:00 State Street Investor Confidence Index
11:00 Survey of Business Uncertainty
11:30 Results of $26B, 2-Year FRN Auction
1:00 PM Results of $61B, 5-Year Note Auction
***New: PTG Trading Room Chat Log’s Link
10:30 EIA Petroleum Inventories
***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): Having fulfilled cycle objectives, price failed to extend gains above prior high, at which time the decline began. Price found responsive buyers at projected lower target (4181) as outlined in DTS Briefing 5.25.21. Market on Close Sell $1 Billion capped the session. Range was 33.50 handles on 1.191M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normalized decline projection (4184.50) is in-place, with price trading higher during GLOBEX, as of this writing (7:30 pm Tuesday evening). Range boundaries expected for Wednesday’s session is between 4184 – 4203. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4195, initially targets 4203 – 4206 zone.
2.) Price sustains an offer below 4195, initially targets 4186 – 4184 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 = 4198 PVA Low Edge = 4184 Prior POC = 4193
Range Projections and Key Levels (ES) June 2021 (M) Contract
HOD ATR Range Projection: 4243; LOD ATR Range Projection: 4148; 3 Day Central Pivot: 4179; 3 Day Cycle Target: 4221; 10 Day Average True Range 56; VIX: 18
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is trading above prior 5 day value high (13697) during overnight trade as bulls continue to reassert upside pressure following prior session decline. Prior range was 132 handles on 432k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13674 PVA Low Edge = 13625 Prior POC = 13646
Bull Scenario: IF Bulls sustain a bid above 13686, THEN initial upside estimate targets 13729 – 13748 zone.
Bear Scenario: IF Bears sustain an offer below 13686, THEN initial downside estimate targets 13643 – 13623 zone.
Range Projections and Key Levels (NQ) June 2021 (M) Contract
HOD ATR Range Projection: 13911; LOD ATR Range Projection: 13480; 3 Day Central Pivot: 13564; 3 Day Cycle Target: 13980; 10 Day Average True Range: 248; VIX: 18
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.
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