8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
8:30 Retail Sales
10:00 Business Inventories
10:30 EIA Natural Gas Inventory
4:00 PM Treasury International Capital
4:30 PM Fed Balance Sheet
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 3 (CD3): Successful test of CD1 Low (4434.50) lead to strong rally, fulfilling 3 Day Cycle Targets. Range was 50 handles on 1.361M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline is (4446), but price has rallied back to 4465, 5-day VAH. Price has also cleared the initial 3 Day Central Pivot Zone hurdle, but will need to stay above (convert) on any back test. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4465, initially targets 4475 – 4480 zone.
2.) Price sustains an offer below 4465, initially targets 4455 – 4450 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4465 PVA Low Edge = 4430 Prior POC = 4444
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4498; LOD ATR Range Projection: 4438; 3 Day Central Pivot: 4457; 3 Day Cycle Target: 4496; 10 Day Average True Range 37; VIX: 19
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price has rebounded from recent declines and is currently holding above 3 Day Central Pivot Zone (15442 – 15433) during overnight activity. Prior range was 207 handles on 470k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 15431 PVA Low Edge = 15325 Prior POC = 15359
Bull Scenario: IF Bulls sustain a bid above 15433, THEN initial upside estimate targets 15485 – 15505 zone.
Bear Scenario: IF Bears sustain an offer below 15433, THEN initial downside estimate targets 15405 – 15393 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 15595; LOD ATR Range Projection: 15372; 3 Day Central Pivot: 15437; 3 Day Cycle Target: 15645; 10 Day Average True Range: 148; VIX: 19
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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