Markets (Top Stories)
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Bullish consolidation CD2, as price held KEY LIS (4875), then vaulted higher in the final hour of the day, easily fulfilling 3 Day Cycle Target (4932.50). Prior range was 91 handles on 1.738M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (4932.50) is fulfilled, though with bullish momentum intact, we’ll mark to day as a “wild-card” given FRYDAY and everything is on the “trading table.” Our daily plan remains unchanged. 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 4950, initially targets 4970 – 4975 zone.
Bear Scenario: Price sustains an offer below 4950, initially targets 4935 – 4930 zone.
****IMPORTANT NOTE: It is good practice to review previous briefings as many times key levels noted then, come into play for the current session. PREPARATION = PROFITS
PVA High Edge = 4910 PVA Low Edge = 4875 Prior POC = 4890
Range Projections and Key Levels (ES) March 2024 (H) Contract
HOD ATR Range Projection: 4999; LOD ATR Range Projection: 4906; 3 Day Central Pivot: 4922; 3 Day Cycle Target: 4932; 10 Day Average True Range 49; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Bullish consolidation CD2, as price held KEY LIS (17285), then vaulted higher in the final hour of the day, easily fulfilling 3 Day Cycle Target (17540). Prior range was 384 handles on 679k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (17540) is fulfilled, though with bullish momentum intact, we’ll mark to day as a “wild-card” given FRYDAY and everything is on the “trading table.” Our daily plan remains unchanged. 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 17590, initially targets 17655 – 17725 zone.
Bear Scenario: Price sustains an offer below 17590, initially targets 17530 – 17520 zone.
PVA High Edge = 17392 PVA Low Edge = 17284 Prior POC = 17344
Range Projections and Key Levels (NQ) March 2024 (H) Contract
HOD ATR Range Projection: 17838; LOD ATR Range Projection: 17347; 3 Day Central Pivot: 17466; 3 Day Cycle Target: 17540; 10 Day Average True Range: 260; 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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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