Markets

Source: SeekingAlpha.com

Economic Calendar

8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
8:30 Empire State Mfg Survey
8:30 Import/Export Prices
9:15 Industrial Production
9:30 Powell Testifies on Semi-Annual Monetary Policy Report
10:30 EIA Natural Gas Inventory
11:00 Fed’s Evans Speech
4:30 PM Fed Balance Sheet

https://www.investing.com/economic-calendar/

***New: PTG Trading Room Chat Log’s Link

S&P 500

Prior Session was Cycle Day 3 (CD3): Price fulfilled 3 Day Cycle Statistic as price declined during AM Session only to rebound during PM Session as Fed Chair Powell testifies to Congress. Range was 34.50 handles on 1.277M contracts exchanged.

 …Transition from Cycle Day 3 to Cycle Day 1

This leads us into Cycle Day 1 (CD1): Average Decline Zone for CD1 measures between 4356 – 4343.75 which has been fulfilled during overnight activity.  As such, estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4350, initially targets 4365 – 4370 zone. 

2.) Price sustains an offer below 4350, initially targets 4335 – 4327 zone.

*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.

PVA High Edge = 4378       PVA Low Edge = 4363         Prior POC = 4370

Range Projections and Key Levels (ES) Sept 2021 (U) Contract

HOD  ATR Range Projection: 4379; LOD ATR Range Projection: 4336; 3 Day Central Pivot: 4366; 3 Day Cycle Target: 4380; 10 Day Average True Range  34; VIX: 18

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Average Decline for CD1 measures between 14915 – 14810. Price is currently trading near 5-day POC (14877) pre-RTH. Prior range was 155 handles on 495k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 14971       PVA Low Edge = 14897      Prior POC = 14918

Bull Scenario: IF Bulls sustain a bid above 14877, THEN initial upside estimate targets 14897 – 14921 zone.

Bear Scenario: IF Bears sustain an offer below 14877, THEN initial downside estimate targets 14847 – 14822 zone.

Range Projections and Key Levels (NQ) Sept 2021 (U) Contract

HOD  ATR Range Projection: 15007; LOD ATR Range Projection: 14820; 3 Day Central Pivot: 14881; 3 Day Cycle Target: 15117; 10 Day Average True Range: 144; 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!

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