Markets

Economic Calendar

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10:30 EIA Petroleum Inventories

S&P 500

***Written 8 pm Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.

Tuesday’s Session was Cycle Day 2 (CD2): Price continued it’s decline fulfilling low range target 4365, at which time strong reversal unfolded, closing in upper quartile of session. This type of day we refer to as a “range-runner”. Range was 51.75 handles on 1.275M contracts exchanged.

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): As long as price is bid above CD1 Low (4377.25) anytime during the RTH session, cycle statistic will be fulfilled. Then it becomes a “wild-card” day as anything goes directionally. As such, estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4405, initially targets 4415 – 4420 zone. 

2.) Price sustains an offer below 4405, initially targets 4390 – 4385 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 3 (CD3)

PVA High Edge = 4398       PVA Low Edge = 4378         Prior POC = 4391

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

HOD  ATR Range Projection: 4443; LOD ATR Range Projection: 4380; 3 Day Central Pivot: 4393; 3 Day Cycle Target: 4412; 10 Day Average True Range  35; VIX: 18.50

Nasdaq 100 (NQ)

Today is Cycle Day 3 (CD3)…Price is currently trading at upper-end of 5-day value area. (15042). Three-day cycle statistic has bee fulfill, so we’ll mark today as a “wild-card”. Prior range was  201 handles on 516k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 15032       PVA Low Edge = 14947      Prior POC = 14967

Bull Scenario: IF Bulls sustain a bid above 15534, THEN initial upside estimate targets 15060 – 15080 zone.

Bear Scenario: IF Bears sustain an offer below 15534, THEN initial downside estimate targets 15000 – 14990 zone.

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

HOD  ATR Range Projection: 15185; LOD ATR Range Projection: 14910; 3 Day Central Pivot: 19595; 3 Day Cycle Target: 15034; 10 Day Average True Range: 163; VIX: 18.50

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.

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