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 unfolded as outlined in prior DTS Briefing 1.9.24. Stated: ” We’ll be anticipating a Market After Trend Day (MATD) with bias favoring buyside on pullbacks.” Prior range was 36 handles on 1.296M contracts exchanged.
Below are some key excerpts from the PTG Trading Room:
- PTGDavid : (8:50:57 AM) : Per DTS >>> “Bear Scenario: Price sustains an offer below 4790, initially targets 4775 – 4770 zone.”
- PTGDavid : (8:51:04 AM) : 4775 tagged! TYVM
- PTGDavid : (10:00:55 AM) : Buyers responding from initial target zone.
- PTGDavid : (10:06:00 AM) : MATD morning as posted in DTS…
- PTGDavid : (10:19:45 AM) : As I stated…Target Zones are Targets first and potential Reversal Zones second…
- PTGDavid : (10:20:11 AM) : Price has now reversed from TZ…Bulls back in firm-control
Trading Room Chat Logs
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal Decline for Cycle Day 1 Low projects (4770). This level has been touched and responded to during the prior session. We will mark as KEY SUPPORT PIVOT should there be a retest, as bulls will need to defend. Upside objective measures between 4815 – 4825 zone for this cycle. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4785, initially targets 4805 – 4810 zone.
Bear Scenario: Price sustains an offer below 4785, initially targets 4770 – 4765 zone.
PVA High Edge = 4799 PVA Low Edge = 4781 Prior POC = 4792
*****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 1 (CD1)
Range Projections and Key Levels (ES) March 2024 (H) Contract
HOD ATR Range Projection: 4812; LOD ATR Range Projection: 4759; 3 Day Central Pivot: 4749; 3 Day Cycle Target: 4810; 10 Day Average True Range 44; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Markets pulled back and found a buy response from the 16675 level outlined in prior DTS Briefing 1.9.24. Prior range was 210 handles on 597k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal Decline for Cycle Day 1 measures 16673.50 which was responded from during prior session. We will mark as KEY SUPPORT PIVOT should there be a retest, as bulls will need to defend. Upside objective measures between 16972 – 17052 zone for this cycle. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 16825, initially targets 16895 – 16910 zone.
Bear Scenario: Price sustains an offer below 16825, initially targets 16775 – 16755 zone.
PVA High Edge = 16858 PVA Low Edge = 16732 Prior POC = 16828
Range Projections and Key Levels (NQ) March 2024 (H) Contract
HOD ATR Range Projection: 17033; LOD ATR Range Projection: 16633; 3 Day Central Pivot: 16536; 3 Day Cycle Target: 17132; 10 Day Average True Range: 217; 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