The period from July 3rd to August 11th is referred to as the Dog Days of Summer. Where did the term come from? And what does it have to do with dogs? We explain.
10:00 Job Openings and Labor Turnover Survey
10:10 Fed’s Bostic: “Building an Inclusive Economy”
11:30 Fed’s Barkin Speech
12:30 PM Investor Movement Index
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 2 (CD2): Bullish Job Report on Friday propelled markets to new-all-time highs as the “Dog Days of Summer” have settled in, with August being traditionally a big vacation period for most Money Managers/Traders. Range was 17 handles on 867k contracts exchanged with one of the narrowest ranges and slowest/lowest volume days this summer.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): 3 Day Cycle Statistic is firmly in-place, so we’ll mark today as “Wild-Card” Monday. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4412, initially targets 4424 – 4428 zone.
2.) Price sustains an offer below 4412, initially targets 4402 – 4400 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4430 PVA Low Edge = 4424 Prior POC = 4428
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
HOD ATR Range Projection: 4446; LOD ATR Range Projection: 4396; 3 Day Central Pivot: 4413; 3 Day Cycle Target: 4428; 10 Day Average True Range 31; VIX: 17
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Nasdaq futures are currently trading within 2-day value zone (15176 – 15172) pre-RTH. Prior range was 122 handles on 405k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15118 PVA Low Edge = 15077 Prior POC = 15093
Bull Scenario: IF Bulls sustain a bid above 15118, THEN initial upside estimate targets 15142 – 15148 zone.
Bear Scenario: IF Bears sustain an offer below 15118, THEN initial downside estimate targets 15073 – 15070 zone.
Range Projections and Key Levels (NQ) Sept 2021 (U) Contract
HOD ATR Range Projection: 15156; LOD ATR Range Projection: 14973; 3 Day Central Pivot: 15102; 3 Day Cycle Target: 15171; 10 Day Average True Range: 153; VIX: 17
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.
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