Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): The “Volatility Train” continued to barrel down the tracks to 4150 Breakout Target, before response buyers squelched the sellers. Prior range was 59 handles on 2.340M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 4170. Markets are off their prior session lows as Tech Earnings providing an over night bid. High volatility typically foreshadows important turning points. Anticipating continue elevated volatility to end the week. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4175, initially targets 4195 – 4205 zone.
Bear Scenario: Price sustains an offer below 4175, initially targets 4160 – 4155 zone.
PVA High Edge = 4201 PVA Low Edge = 4165 Prior POC = 4175
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4230; LOD ATR Range Projection: 4116; 3 Day Central Pivot: 4223; 3 Day Cycle Target: 4229; 10 Day Average True Range 64; VIX: 20
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): The “Volatility Train” continued to barrel down the tracks to 14160 Breakout Target, before response buyers squelched the sellers. Prior range was 318 handles on 979k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 14182. Markets are off their prior session lows as Tech Earnings providing an over night bid. High volatility typically foreshadows important turning points. Anticipating continue elevated volatility to end the week. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 14300, initially targets 14365 – 14390 zone.
Bear Scenario: Price sustains an offer below 14300, initially targets 14250 – 14220 zone.
PVA High Edge = 14331 PVA Low Edge = 14185 Prior POC = 14282
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 14542; LOD ATR Range Projection: 14022; 3 Day Central Pivot: 14562; 3 Day Cycle Target: 15513; 10 Day Average True Range: 295; 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.”
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