Markets

Source: SeekingAlpha.com

Economic Calendar

https://www.investing.com/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 declined to test the CD1 Low (4434.50) before closing back above. Range was 54.25 handles on 1.540M contracts exchanged. 

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Bulls will need to hold the CD1 Low (4434.50) to fulfill the Cycle Statistic. More importantly, bulls need to regain solid control with price retracement back to the 50 day ema zone. Previous tests of this zone have been successful, with subsequent strong rallies to new all-time highs. Can the bulls do it again?  As such, estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4435, initially targets 4450 – 4455 zone. 

2.) Price sustains an offer below 4435, initially targets 4425 – 4412 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 = 4456       PVA Low Edge = 4429         Prior POC = 4450

Range Projections and Key Levels (ES) December 2021 (Z) Contract

HOD  ATR Range Projection: 4468; LOD ATR Range Projection: 4415; 3 Day Central Pivot: 4459; 3 Day Cycle Target: 4467; 10 Day Average True Range  33; VIX: 19.50

Nasdaq 100 (NQ)

Today is Cycle Day 3 (CD3)…Price has rallied off CD1 low (15342.75) rebounding from decline.  Prior range was 180 handles on 467k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 15486       PVA Low Edge = 15393      Prior POC = 15422

Bull Scenario: IF Bulls sustain a bid above 15393, THEN initial upside estimate targets 15440 – 15460 zone.

Bear Scenario: IF Bears sustain an offer below 15393, THEN initial downside estimate targets 15364 – 15357 zone.

Range Projections and Key Levels (NQ) December 2021 (Z) Contract

HOD  ATR Range Projection: 15508; LOD ATR Range Projection: 15293; 3 Day Central Pivot: 15458; 3 Day Cycle Target: 15445; 10 Day Average True Range: 140; VIX: 19.50

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.”

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