Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Morning consolidation lead to an Afternoon rally exceeding last week’s high and fulfilling 4371 TargetMaster Level. Prior range was 76 handles on 1.422M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Positive 3-day statistic is “in-place” so we’ll mark today as a “wild-card” for direction. Bulls have ball control, so it is theirs to lose. PTG’s core trade plan of staying in alignment with dominant force has and will continue to serve us well. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4360, initially targets 4385 – 4390 zone.
Bear Scenario: Price sustains an offer below 4360, initially targets 4330 – 4325 zone.
PVA High Edge = 4375 PVA Low Edge = 4325 Prior POC = 4370
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4437; LOD ATR Range Projection: 4299; 3 Day Central Pivot: 4325; 3 Day Cycle Target: 4401; 10 Day Average True Range 70; VIX: 17
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Morning consolidation lead to an Afternoon rally exceeding last week’s high and fulfilling 15210 TargetMaster Level. Prior range was 263 handles on 609k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Positive 3-day statistic is “in-place” so we’ll mark today as a “wild-card” for direction. Bulls have ball control, so it is theirs to lose. PTG’s core trade plan of staying in alignment with dominant force has and will continue to serve us well. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15165, initially targets 15275 – 15300 zone.
Bear Scenario: Price sustains an offer below 15165, initially targets 15100 – 15065 zone.
PVA High Edge = 15212 PVA Low Edge = 15010 Prior POC = 15187
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 15491; LOD ATR Range Projection: 14895; 3 Day Central Pivot: 14984; 3 Day Cycle Target: 15408; 10 Day Average True Range: 303; VIX: 17
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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