1:00 PM Results of $17B, 20-Year Bond Auction
2:00 PM FOMC Minutes
***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): Price fulfilled it’s 3 Day Cycle Statistic by trading above 4451 level which was our Line-in-the-Sand (LIS), converting to resistance. Price subsequently sold down to 4412, which was our stated trading room target. “ :(12:48:04 PM) :Targeting Lower 12’s….:(12:59:59 PM) : BOOM! 12’s”. Rally back from 12’s settled price 4437.50. Range was 60.50 handles on 1.754M contracts exchanged. Market on Close Buy $2.7B capped the session.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal expectation for CD1 is for a decline averaging 4429.50. Market has been trading back and forth within the 5-day value zone between 4431 – 4456. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4430, initially targets 4445 – 4450 zone.
2.) Price sustains an offer below 4430, initially targets 4420 – 4410 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics 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 = 4452 PVA Low Edge = 4428 Prior POC = 4443
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
HOD ATR Range Projection: 4460; LOD ATR Range Projection: 4424; 3 Day Central Pivot: 4453; 3 Day Cycle Target: 4467; 10 Day Average True Range 25; VIX: 17.75
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is currently trading mid-range of prior session. Prior range was 237 handles on 680k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15013 PVA Low Edge = 14921 Prior POC = 14983
Bull Scenario: IF Bulls sustain a bid above 15000, THEN initial upside estimate targets 15040 – 15060 zone.
Bear Scenario: IF Bears sustain an offer below 15000, THEN initial downside estimate targets 14950 – 14925 zone.
Range Projections and Key Levels (NQ) Sept 2021 (U) Contract
HOD ATR Range Projection: 15092; LOD ATR Range Projection: 14887; 3 Day Central Pivot: 19057; 3 Day Cycle Target: 15157; 10 Day Average True Range: 141; VIX: 17.75
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