Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Negative session closed out the month of September which had plenty of “whip-saw” sessions. Price settled within mid-5 day balance. Prior range was 60 handles on 2.009M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Positive 3-day statistic is expected to be fulfilled as long as price trades above 4301 handle. As trading begins today for October, initial anticipation will be for continued two-way trade with an overall bearish bias, As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4325, initially targets 4340 – 4345 zone.
Bear Scenario: Price sustains an offer below 4325, initially targets 4310 – 4305 zone.
PVA High Edge = 4356 PVA Low Edge = 4326 Prior POC = 4340
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4380; LOD ATR Range Projection: 4299; 3 Day Central Pivot: 4327; 3 Day Cycle Target: 4341; 10 Day Average True Range 55; VIX: 18
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Negative session closed out the month of September which had plenty of “whip-saw” sessions. Price settled within mid-5 day balance. Prior range was 249 handles on 734k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Positive 3-day statistic is expected to be fulfilled as long as price trades above 14658 handle. As trading begins today for October, initial anticipation will be for continued two-way trade with an overall bearish bias, As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 14890, initially targets 14930 – 14940 zone.
Bear Scenario: Price sustains an offer below 14890, initially targets 14850 – 14840 zone.
PVA High Edge = 15039 PVA Low Edge = 14880 Prior POC = 14992
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 15114; LOD ATR Range Projection: 14773; 3 Day Central Pivot: 14824; 3 Day Cycle Target: 14943; 10 Day Average True Range: 236; VIX: 18
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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