Markets
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
***Written Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Prior Session was Cycle Day 2 (CD2): Normal CD2 as price consolidated within the expected range outlined (4005 – 4040) in prior DTS 1-24-23 briefing. Prior range was 42 handles which was below average (58) on 1.431M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Statistic appears safely secured with price trading above Cycle Day 1 Low (3980.25). Current “trend-lean” continues to favor bulls above 4000 Strike. As such, we’ll mark today as a “wild-card with estimated scenarios to consider for today’s trading.
NOTE: Today’s LIS and TGT’s are essentially unchanged from the prior session.
Bull Scenario: Price sustains a bid above 4020, initially targets 4035 – 4040 zone.
Bear Scenario: Price sustains an offer below 4020, initially targets 4005 – 4000 zone.
PVA High Edge = 4040 PVA Low Edge = 4022 Prior POC = 4033
*****The 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)
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 4057; LOD ATR Range Projection: 3979; 3 Day Central Pivot: 4006; 3 Day Cycle Target: 4074; 10 Day Average True Range 61; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Three-Day Cycle Statistic appears safely secured with price trading above Cycle Day 1 Low (11650). As such, we’ll mark today as a “wild-card with estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11835, THEN initial upside estimate targets 11900– 11910 zone.
Bear Scenario: IF Bears sustains offer below 11835, THEN initial downside estimate targets 11750 – 11725 zone.
PVA High Edge = 11932 PVA Low Edge = 11880 Prior POC = 11907
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 11975; LOD ATR Range Projection: 11733; 3 Day Central Pivot: 11790; 3 Day Cycle Target: 11984; 10 Day Average True Range: 242; VIX: 20
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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