Markets (Top Stories)
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (Buy Day): Price established a new cycle low at 5060. Wide range session as price initially rallied with reaction to PCE Index outlined in prior DTS Briefing 2/29/24. Once CD1 Penetration Level (5104.50) was fulfilled, reversal unfolded pushing lower to test Key Support Zone (5060 – 70). Not to be undone, price once again reversed higher pushing into the Market on Close Buy Imbalance in excess of $4 Billion with a sharp reversal at the closing bell. Wild end to the Month of February. Prior range was 45 handles on 1.171M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (Sell Day): Overall price remains confined to a wide multi-composite value area defined by 5070 – 5100 (30 handle range). Normal for a Cycle Day 2 (Sell Day) is for consolidation, which would dovetail nicely within the current market context. Also, keep in mind the first of the month generally sees new monies being put to work from retirement in-flows. Bulls need to clear the upper value boundary, whereas bears must force liquidation below lower value. Otherwise continued two-way balancing flow will prevail. The stage is set for the winner to take all!
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 5100, initially targets 5115 – 5120 zone.
Bear Scenario: Price sustains an offer below 5070, initially targets 5055 – 5050 zone.
***NOTE: There are two distinct Line in the Sand (LIS) levels in today’s report, which signifies the balanced nature of the current condition. Failure on either bull/bear to break to new direction is likely to keep price action contained within the multi-day composite value area.
PVA High Edge = 5104 PVA Low Edge = 5086 Prior POC = 5095
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.
Range Projections (ES) March 2024 (H)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (Buy Day): Price established a new cycle low at 17826. Wide range session as price initially rallied with reaction to PCE Index outlined in prior DTS Briefing 2/29/24. Once the early excess high was established, a reversal unfolded pushing lower to test Key Support Zone (17840 – 17860). Not to be undone, price once again reversed higher pushing into the Market on Close Buy Imbalance in excess of $4 Billion with a sharp reversal at the closing bell. Wild end to the Month of February. Prior range was 283 handles on 671k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (Sell Day): Overall price remains confined to a wide multi-composite value area defined by 17900 – 18000 (100 handle range). Normal for a Cycle Day 2 (Sell Day) is for consolidation, which would dovetail nicely within the current market context. Also, keep in mind the first of the month generally sees new monies being put to work from retirement in-flows. Bulls need to clear the upper value boundary (18060), whereas bears must force liquidation below lower value (17935). Otherwise continued two-way balancing flow will prevail. The stage is set for the winner to take all!
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 18060, initially targets 18125 – 18165 zone.
Bear Scenario: Price sustains an offer below 17935, initially targets 17870 – 17825 zone.
PVA High Edge = 18067 PVA Low Edge = 17980 Prior POC = 18042
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