Markets
Source: SeekingAlpha.com
Economic Calendar
12:30 PM Investor Movement Index
12:30 PM Fed’s Bostic Speech
3:00 PM Consumer Credit
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Market’s abruptly shifted gears from risk-off to risk-on following NFP report, as price vaulted higher never looking back, closing near highs of the week Prior range was 109 handles on 1.937M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Rally is in-place as 3925 handle target has been fulfilled. We’ll mark today as a “wild-card” with current momentum in the bullish camp, though a pullback/decline could also unfold given cycle targets achieved. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3915, initially targets 3935 – 3940 zone.
Bear Scenario: Price sustains an offer below 3915, initially targets 3905 – 3900 zone.
PVA High Edge = 3928 PVA Low Edge = 3864 Prior POC = 3915
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 3993; LOD ATR Range Projection: 3860; 3 Day Central Pivot: 3867; 3 Day Cycle Target: 3925; 10 Day Average True Range 76; VIX: 21
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…We’ll mark today as a “wild-card” with current momentum in the bullish camp, though a pullback/decline could also unfold given that cycle targets have been achieved. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11165, THEN initial upside estimate targets 11187– 11206 zone.
Bear Scenario: IF Bears sustains offer below 11165, THEN initial downside estimate targets 11126 – 11116 zone.
PVA High Edge = 11164 PVA Low Edge = 10887 Prior POC = 11112
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 11415; LOD ATR Range Projection: 10892; 3 Day Central Pivot: 10959; 3 Day Cycle Target: 11236; 10 Day Average True Range: 295; VIX: 21
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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