Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Markets rallied ending a “flip-flopping” week fulfilling 3-Day Cycle objectives. Prior range was 81 handles on 1.672M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (4398) has been satisfied, so we will mark today as a “wild-card” as the next decline can begin at any time, though benefit goes to the bulls for a strong performance. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4410, initially targets 4435 – 4440 zone.
Bear Scenario: Price sustains an offer below 4410, initially targets 4400 – 4390 zone.
PVA High Edge = 4435 PVA Low Edge = 4380 Prior POC = 4432
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4464; LOD ATR Range Projection: 4372; 3 Day Central Pivot: 4392; 3 Day Cycle Target: 4398; 10 Day Average True Range 56; VIX: 15
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Markets rallied ending a “flip-flopping” week fulfilling 3-Day Cycle objectives. Prior range was 405 handles on 662k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (15556) has been satisfied, so we will mark today as a “wild-card” as the next decline can begin at any time, though benefit goes to the bulls for a strong performance. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15510, initially targets 15585 – 15610 zone.
Bear Scenario: Price sustains an offer below 15510, initially targets 15480 – 15465 zone.
PVA High Edge = 15611 PVA Low Edge = 15344 Prior POC = 1592
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 15753; LOD ATR Range Projection: 15357; 3 Day Central Pivot: 15377; 3 Day Cycle Target: 15556; 10 Day Average True Range: 244; VIX: 15
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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