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 declined and established a new cycle low at 4512.75. Prior range was 26 handles on 1.244M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is for two-way traffic consolidation to build energy for the next breakout. Part of this cycle’s rally is in-place, as there is additional potential to fulfill 4554 cycle target. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4520, initially targets 4535 – 4540 zone.
Bear Scenario: Price sustains an offer below 4520, initially targets 4510 – 4505 zone.
PVA High Edge = 4528 PVA Low Edge = 4517 Prior POC = 4518
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4565; LOD ATR Range Projection: 4488; 3 Day Central Pivot: 4522; 3 Day Cycle Target: 4554; 10 Day Average True Range 45; VIX: 14
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined and established a new cycle low at 15825. Prior range was 115 handles on 556k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is for two-way traffic consolidation to build energy for the next breakout. Part of this cycle’s rally is in-place, as there is additional potential to fulfill 16142 cycle target. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15865, initially targets 15930 – 15945 zone.
Bear Scenario: Price sustains an offer below 15865, initially targets 15810 – 15790 zone.
PVA High Edge = 15915 PVA Low Edge = 15860 Prior POC = 15885
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 16043; LOD ATR Range Projection: 15726; 3 Day Central Pivot: 15885; 3 Day Cycle Target: 16142; 10 Day Average True Range: 224; 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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