Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): Positive Three-Day Cycle as price oscillated between 4290 – 4340 in a “balancing act” within multi-day value zone to begin the Fourth-Quarter. Prior range was 60 handles on 1.894M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 4321. Price continues to form a multi-day balancing value zone between 4290 – 4340. Not much has changed as trading transitions to the fourth-quarter, so we’ll continue to stay flexible and find short-term opportunities within value zone until the next directional breakout. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4315, initially targets 4335 – 4340 zone.
Bear Scenario: Price sustains an offer below 4315, initially targets 4295 – 4290 zone.
PVA High Edge = 4328 PVA Low Edge = 4305 Prior POC = 4325
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4381; LOD ATR Range Projection: 4270; 3 Day Central Pivot: 4332; 3 Day Cycle Target: 4363; 10 Day Average True Range 59; VIX: 17
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Positive Three-Day Cycle as price oscillated between 14860 – 14980 in a “balancing act” within multi-day value zone to begin the Fourth-Quarter. Prior range was 220 handles on 757k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 14798. Price continues to form a multi-day balancing value zone between 14860 – 14980. Not much has changed as trading transitions to the fourth-quarter, so we’ll continue to stay flexible and find short-term opportunities within value zone until the next directional breakout. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 14950, initially targets 15050 – 15090 zone.
Bear Scenario: Price sustains an offer below 14950, initially targets 14860 – 14840 zone.
PVA High Edge = 14970 PVA Low Edge = 14885 Prior POC = 14915
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 15218; LOD ATR Range Projection: 14760; 3 Day Central Pivot: 14901; 3 Day Cycle Target: 15270; 10 Day Average True Range: 245; VIX: 17
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
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