Markets
Economic Calendar
8:15 ADP Jobs Report
8:30 Goods and Services Trade
8:30 Initial Jobless Claims
9:20 Fed’s Bostic Speech
9:45 PMI Composite Final
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
1:20 PM Fed’s Bullard Speech
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 3 (CD3): Price remains stuck on a multi-day trading range as upside breakout attempt above 3895 was rejected, Prior range was 59 handles on 1.858M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 3826. Normal for CD1 is a decline to find a new secure cycle low. Overnight and pre-RTH price is trading in a relatively quiet narrow range as traders await jobless claims data. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3850, initially targets 3885 – 3890 zone.
Bear Scenario: Price sustains an offer below 3850, initially targets 3840 – 3835 zone.
PVA High Edge = 3875 PVA Low Edge = 3848 Prior POC = 3863
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 3928; LOD ATR Range Projection: 3813; 3 Day Central Pivot: 3858; 3 Day Cycle Target: 3960; 10 Day Average True Range 72; VIX: 22
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline for CD1 measures 10770. Normal for CD1 is a decline to find a new secure cycle low. As such, estimated scenarios to consider for today’s trading. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 10988, THEN initial upside estimate targets 11042– 11068 zone.
Bear Scenario: IF Bears sustains offer below 10988, THEN initial downside estimate targets 10930 – 10915 zone.
PVA High Edge = 11042 PVA Low Edge = 10949 Prior POC = 10977
Range Projections and Key Levels (NQ) March 2023 (H) Contract
HOD ATR Range Projection: 11202; LOD ATR Range Projection: 10775; 3 Day Central Pivot: 10934; 3 Day Cycle Target: 11363; 10 Day Average True Range: 271; VIX: 22
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