8:30 Jobless Claims
8:30 Chicago Fed National Activity Index
10:00 Existing Home Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
4:30 PM Fed Balance Sheet
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 2 (CD2): Price continued it’s ascent, fully recovering prior Cycle’s CD1 (Buy Day) Low, essentially averting the potential for consecutive failed cycles, which would have been a bearish signal. For now, Bulls remain in-control. Range was 45.25 handles on 1.136M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): 3-Day Cycle Target (4307) has been fulfilled, so we’ll mark today as a “wild-card” for direction. Current price swing is up and bulls are in-control, but as we know, the “trading weather” can change quickly. We remain vigilant, flexible and always in alignment with the current dominate force. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4355, initially targets 4366 – 4373 zone.
2.) Price sustains an offer below 4355, initially targets 4340 – 4332 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4348 PVA Low Edge = 4328 Prior POC = 4340
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is extending gains during overnight session and has fully recovered prior CD1 (Buy Day) Low. Prior range was 171.25 handles on 397k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 14786 PVA Low Edge = 14718 Prior POC = 14775
Bull Scenario: IF Bulls sustain a bid above 14840, THEN initial upside estimate targets 14872 – 14895 zone.
Bear Scenario: IF Bears sustain an offer below 14840, THEN initial downside estimate targets 14810 – 14790 zone.
Range Projections and Key Levels (NQ) Sept 2021 (U) 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
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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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