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 3 (CD3): Markets declined as statistics favored a post President’s Day negative session. Responsive Buyers were active at the Monthly Midpoint (4970) and POC from 2/13/24. Prior range was 56 handles on 2.421M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4990. This level also marks 5-day POC, so we will mark this level as this session’s Bull/Bear Line-In-Sand (LIS).
Market volatility has now increased and is now providing ample intra-day trading opportunities. So stay-focused! 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 4990, initially targets 5005 – 5010 zone.
Bear Scenario: Price sustains an offer below 4990, initially targets 4975 – 4970 zone.
PVA High Edge = 4994 PVA Low Edge = 4976 Prior POC = 4990
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 90% 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 1 (CD1)
Range Projections (ES) March 2024 (H)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Markets declined as statistics favored a post President’s Day negative session. Responsive Buyers were active at the 17470 level. Prior range was 340 handles on 783k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 17678 which has been exceeded down to Low Range (17585), which we will use as today’s Bull/Bear Line-In-Sand (LIS).
Market volatility has now increased and is now providing ample intra-day trading opportunities. So stay-focused! 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 17585, initially targets 17665 – 17685 zone.
Bear Scenario: Price sustains an offer below 17585, initially targets 17505 – 17480 zone.
PVA High Edge = 17597 PVA Low Edge = 17480 Prior POC = 17570
Range Projections (NQ) March 2024 (H)
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