Nasdaq futures up 0.6%, following by a 0.4% gain for the S&P 500 and 0.3% advance for the DJIA.
***New: PTG Trading Room Chat Log’s Link
WTI crude oil prices are up more than 17% over the past quarter and have soared nearly 12% in the last month.
***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): This day was referenced as a “wild-card” as cycle objectives had been fulfilled, opening the scenario for a decline unfolding, and it did in fine fashion. Range was 65 handles on 1.963M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average CD1 Decline (4136) was fulfilled during prior session’s decline, leaving today ‘s question as to retest of HVE (4120) or continuation of late day rally to 4157 CD1 Range Objective. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4142, initially targets 4157 – 4172 zone.
2.) Price sustains an offer below 4142, initially targets 4123 – 4120 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 = 4150 PVA Low Edge = 4123.50 Prior POC = 4142
Range Projections and Key Levels (ES) June 2021 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Technology lead the previous session’s decline surpassing CD1 Average Decline Objective (13492). Prior range was 412 handles on 655k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13545 PVA Low Edge = 13400 Prior POC = 13440
Bull Scenario: IF Bulls sustain a bid above 13500, THEN initial upside estimate targets 13545 – 13595 zone.
Bear Scenario: IF Bears sustain an offer below 13500, THEN initial downside estimate targets 13440 – 13400 zone.
Range Projections and Key Levels (NQ) June 2021 (M) Contract
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
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