Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Normal CD2 as price consolidated within parameters 4490 – 4515 outlined in prior DTS 9/18/23 Briefing. Prior range was 27 handles on 1.112M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Positive 3-day statistic will be fulfilled as long as price trades above 4494 during RTH. Nothing has changed following CD2 consolidation. Trading is anticipated to be contained as traders await this week’s FOMC Meeting and Presser on Wednesday. Remember, price moves from contraction to expansion, etc. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4505, initially targets 4515 – 4520 zone.
Bear Scenario: Price sustains an offer below 4505, initially targets 4495 – 4490 zone.
PVA High Edge = 4505 PVA Low Edge = 4492 Prior POC = 4500
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4543; LOD ATR Range Projection: 4467; 3 Day Central Pivot: 4527; 3 Day Cycle Target: 4521; 10 Day Average True Range 40; VIX: 14
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Normal CD2 as price consolidated within parameters 15320 – 15460 outlined in prior DTS 9/18/23 Briefing. Prior range was 130 handles on 591k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Positive 3-day statistic will be fulfilled as long as price trades above 15356 during RTH. Nothing has changed following CD2 consolidation. Trading is anticipated to be contained as traders await this week’s FOMC Meeting and Presser on Wednesday. Remember, price moves from contraction to expansion, etc. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15400, initially targets 15450 – 15460 zone.
Bear Scenario: Price sustains an offer below 15400, initially targets 15325 – 15320 zone.
PVA High Edge = 15440 PVA Low Edge = 15389 Prior POC = 15410
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 15632; LOD ATR Range Projection: 15220; 3 Day Central Pivot: 15553; 3 Day Cycle Target: 15655; 10 Day Average True Range: 210; VIX: 14
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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