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 broke below CD1 Low (4582) key support selling down to 4560 – 4555 TargetMaster Range Zone. Prior range was 37 handles on 1.458M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price has modestly rebounded from prior session’s breakdown. Objective for today today is to reclaim CD1 Low 4582 handle to secure a Positive Three-Day Cycle Statistic. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4565, initially targets 4585 – 4590 zone.
Bear Scenario: Price sustains an offer below 4565, initially targets 4555 – 4550 zone.
PVA High Edge = 4593 PVA Low Edge = 4572 Prior POC = 4578
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
HOD ATR Range Projection: 4602; LOD ATR Range Projection: 4538; 3 Day Central Pivot: 4580; 3 Day Cycle Target: 4582; 10 Day Average True Range 40; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Price broke below CD1 Low (15911) key support selling down to 15600 – 15550 TargetMaster Range Zone. Prior range was 378 handles on 795k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price has rebounded to PUT WALL / VOL TRIGGER levels during overnight trade. Objective for today today is to reclaim CD1 Low 15911 handle to secure a Positive Three-Day Cycle Statistic. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15645, initially targets 15675 – 15700 zone.
Bear Scenario: Price sustains an offer below 15645, initially targets 15600 – 15570 zone.
PVA High Edge = 15802 PVA Low Edge = 15548 Prior POC = 15590
Range Projections and Key Levels (NQ) Sept 2023 (U) Contract
HOD ATR Range Projection: 15788; LOD ATR Range Projection: 15443; 3 Day Central Pivot: 15855; 3 Day Cycle Target: 15911; 10 Day Average True Range: 234; 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.”
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
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