Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
***Written for contribution to MrTopStep’s “The Opening Print” publication.
Prior Session was Cycle Day 1 (CD1): Markets continued to consolidate recent gains as price established a new Cycle Low at 4874.25, while holding the 4880 (LIS) firm bid as outlined in prior DTS Briefing 1.23.24. Prior range was 27 handles on 1.085M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is “clicking” at prior session’s Initial Target Zone (ITZ) high edge @ 4905 at time of this writing (7:30 pm). Three-Day Cycle Rally targets 4815, as momentum is building for a “trend-continuation” scenario. The Key Support Zone is now marked between 4875 – 4880. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4890, initially targets 4910 – 4915 zone.
Bear Scenario: Price sustains an offer below 4890, initially targets 4880 – 4875 zone.
PVA High Edge = 4887 PVA Low Edge = 4875 Prior POC = 4883
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
For more detailed information for both bullish and bearish projected targets, please visit: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet below:
Link to access full Cycle Spreadsheet > > Cycle Day 2 (CD2)
Range Projections and Key Levels (ES) March 2024 (H) Contract
HOD ATR Range Projection: 4946; LOD ATR Range Projection: 4859; 3 Day Central Pivot: 4875; 3 Day Cycle Target: 4815; 10 Day Average True Range 46; VIX: 12
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Markets continued to consolidate recent gains as price established a new Cycle Low at 17409.50, while holding the 17445 (LIS) firm bid as outlined in prior DTS Briefing 1.23.24. Prior range was 148 handles on 500k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is “clicking” at 2-day high zone (17570 – 17585) at time of this writing (7:30 pm). Three-Day Cycle minimum rally target (17550) has been fulfilled, with expansion targets (17604 – 17619) open, as momentum is building for a “trend-continuation” scenario. The Key Support Zone is now marked between 17410 – 17430. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 17535, initially targets 17605 – 17620 zone.
Bear Scenario: Price sustains an offer below 17535, initially targets 17490 – 17480 zone.
PVA High Edge = 17485 PVA Low Edge = 17438 Prior POC = 17470
Range Projections and Key Levels (NQ) March 2024 (H) Contract
HOD ATR Range Projection: 17786; LOD ATR Range Projection: 17347; 3 Day Central Pivot: 17448; 3 Day Cycle Target: 17754; 10 Day Average True Range: 234; VIX: 12
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
IMPORTANT NOTICE! No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. There is substantial risk of loss associated with trading securities and options on equities. Only risk capital should be used to trade. Trading securities is not suitable for everyone.
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CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN