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 consolidated recent gains as outlined in prior DTS 11.15.23 briefing. Prior range contracted to 30 handles on 1.506M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (4461) 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. Bulls will need to Clear and Convert (C&C) 4525 handle to push for higher levels targeting 4550 – 4560 zone. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4525, initially targets 4550 – 4560 zone.
Bear Scenario: Price sustains an offer below 4525, initially targets 4505 – 4500 zone.
PVA High Edge = 4528 PVA Low Edge = 4518 Prior POC = 4522
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4567; LOD ATR Range Projection: 4465; 3 Day Central Pivot: 4477; 3 Day Cycle Target: 4461; 10 Day Average True Range 55; VIX: 14
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Markets consolidated recent gains as outlined in prior DTS 11.15.23 briefing. Prior range was 217 handles on 676k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (15876) 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. Bulls will need to Clear and Convert (C&C) 15930 handle to push for higher levels targeting 15980 – 16000 zone. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15930, initially targets 15980 – 16000 zone.
Bear Scenario: Price sustains an offer below 15930, initially targets 15820 – 15800 zone.
PVA High Edge = 15957 PVA Low Edge = 15892 Prior POC = 15905
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 16085; LOD ATR Range Projection: 15640; 3 Day Central Pivot: 15746; 3 Day Cycle Target: 15876; 10 Day Average True Range: 240; 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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