Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 Empire State Mfg Survey
3:00 PM Fed’s Williams Speech
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Shortened MLK holiday kept a lid on activity. Prior range was 17 handles on 110k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Rally is anticipated to be fulfilled with price trading above CD1 Low (3961.75). We’ll mark today as a “wild-card” for direction as price is currently trading sideways between 4000 – 4025. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3995, initially targets 4015 – 4020 zone.
Bear Scenario: Price sustains an offer below 3995, initially targets 3985 – 3980 zone.
PVA High Edge = 4020 PVA Low Edge = 4004 Prior POC = 4006
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 4017; LOD ATR Range Projection: 3950; 3 Day Central Pivot: 4002; 3 Day Cycle Target: 4064; 10 Day Average True Range 66; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Three-Day Cycle Rally is anticipated to be fulfilled with price trading above CD1 Low (11389). We’ll mark today as a “wild-card” for direction as price is currently trading sideways between 11510 – 11640. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11560, THEN initial upside estimate targets 11610– 11615 zone.
Bear Scenario: IF Bears sustains offer below 11560, THEN initial downside estimate targets 11530 – 11520 zone.
PVA High Edge = 11575 PVA Low Edge = 11545 Prior POC = 11560
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 11792; LOD ATR Range Projection: 11340; 3 Day Central Pivot: 11543; 3 Day Cycle Target: 11820; 10 Day Average True Range: 261; VIX: 20
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.”
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