Markets (Top Stories)
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Price established a new Cycle Low at 4898.50, as price continued to consolidated within 4905 – 4925 range edges outlined in previous DTS Briefings. Prior range was 35 handles on 1.273M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): We’ll be looking for Mr. Market to break the current “log-jam” and decide on a directional lean. As always, stay flexible and in-alignment with the primary intra-day forces. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4905, initially targets 4925 – 4930 zone.
Bear Scenario: Price sustains an offer below 4905, initially targets 4890 – 4895 zone.
PVA High Edge = 4923 PVA Low Edge = 4910 Prior POC = 4915
Range Projections and Key Levels (ES) March 2024 (H) Contract
HOD ATR Range Projection: 4941; LOD ATR Range Projection: 4470; 3 Day Central Pivot: 4913; 3 Day Cycle Target: 4972; 10 Day Average True Range 40; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Price established a new Cycle Low at 17466, as price continued to consolidated within 17450 – 17550 range edges. Prior range was 166 handles on 626k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): We’ll be looking for Mr. Market to break the current “log-jam” and decide on a directional lean. As always, stay flexible and in-alignment with the primary intra-day forces. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 17500, initially targets 17535 – 17560 zone.
Bear Scenario: Price sustains an offer below 17500, initially targets 17410 – 17390 zone.
PVA High Edge = 17583 PVA Low Edge = 17508 Prior POC = 17533
Range Projections and Key Levels (NQ) March 2024 (H) Contract
HOD ATR Range Projection: 17675; LOD ATR Range Projection: 17284; 3 Day Central Pivot: 17608; 3 Day Cycle Target: 17813; 10 Day Average True Range: 218 VIX: 13
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