Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price established a new cycle low at 4122.25 late in the session. Prior range was 62 handles on 2.123M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price has gapped higher on Globex open maintaining a sustained bid into RTH opening. Key Line-in-Sand (LIS) for today is 4150. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4150, initially targets 4175 – 4180 zone.
Bear Scenario: Price sustains an offer below 4150, initially targets 4135 – 4130 zone.
PVA High Edge = 4184 PVA Low Edge = 4133 Prior POC = 4163
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4207; LOD ATR Range Projection: 4103; 3 Day Central Pivot: 4183; 3 Day Cycle Target: 4184; 10 Day Average True Range 63; VIX: 20
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price established a new cycle low at 14209.75 late in the session. Prior range was 198 handles on 774k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price has gapped higher on Globex open maintaining a sustained bid into RTH opening. Key Line-in-Sand (LIS) for today is 14320. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 14320, initially targets 14405 – 14420 zone.
Bear Scenario: Price sustains an offer below 14320, initially targets 14270 – 14250 zone.
PVA High Edge = 14368 PVA Low Edge = 14266 Prior POC = 14318
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 14589; LOD ATR Range Projection: 14105; 3 Day Central Pivot: 14385; 3 Day Cycle Target: 15476; 10 Day Average True Range: 286; 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.”
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
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