Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Price gapped higher on positive response to softer CPI Print as been expected by widely known “bobble-heads”. Prior range was 53 handles on 1.691M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price has fulfilled 3-day Cycle Targets, so with Bulls firmly in-control, we’ll mark today’s session as a “wild-card” for direction. Continuation. Reversal or Balance are all potential scenarios. We’ll let Mr. Market decide and we’ll align in accordance. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4520, initially targets 4535 – 4550 zone.
Bear Scenario: Price sustains an offer below 4505, initially targets 4475 – 4470 zone.
PVA High Edge = 4515 PVA Low Edge = 4500 Prior POC = 4510
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
HOD ATR Range Projection: 4550; LOD ATR Range Projection: 4475; 3 Day Central Pivot: 4466; 3 Day Cycle Target: 4550; 10 Day Average True Range 40; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Price gapped higher on positive response to softer CPI Print as been expected by widely known “bobble-heads”. Prior range was 253 handles on 640k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price has fulfilled 3-day Cycle Targets, so with Bulls firmly in-control, we’ll mark today’s session as a “wild-card” for direction. Continuation. Reversal or Balance are all potential scenarios. We’ll let Mr. Market decide and we’ll align in accordance. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15455, initially targets 15560 – 15585 zone.
Bear Scenario: Price sustains an offer below 15455, initially targets 15365 – 15355 zone.
PVA High Edge = 15474 PVA Low Edge = 15386 Prior POC = 15458
Range Projections and Key Levels (NQ) Sept 2023 (U) Contract
HOD ATR Range Projection: 15650; LOD ATR Range Projection: 15295; 3 Day Central Pivot: 15260; 3 Day Cycle Target: 15585; 10 Day Average True Range: 193; VIX: 13
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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