Trade Strategy 11.16.23

Markets (Top Stories)

Source: SeekingAlpha.com

Economic Calendar

https://www.investing.com/economic-calendar/

S&P 500

Prior Session was Cycle Day 2 (CD2) Markets consolidated recent gains as outlined in prior DTS 11.15.23 briefing. Prior range contracted to 30 handles on 1.506M contracts exchanged. 

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (4461) has been satisfied, so we will mark today as a “wild-card” as the next decline can begin at any time, though benefit goes to the bulls for a strong performance. Bulls will need to Clear and Convert (C&C) 4525 handle to push for higher levels targeting 4550 – 4560 zone. As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 4525, initially targets 4550 – 4560 zone. 

Bear Scenario: Price sustains an offer below 4525, initially targets 4505 – 4500 zone.

PVA High Edge = 4528       PVA Low Edge = 4518        Prior POC = 4522

Range Projections and Key Levels (ES) December 2023 (Z) Contract

HOD  ATR Range Projection: 4567; LOD ATR Range Projection: 4465; 3 Day Central Pivot: 4477; 3 Day Cycle Target: 4461; 10 Day Average True Range  55; VIX: 14

Nasdaq 100 (NQ)

Prior Session was Cycle Day 2 (CD2) Markets consolidated recent gains as outlined in prior DTS 11.15.23 briefing. Prior range was 217 handles on 676k contracts exchanged. 

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (15876) has been satisfied, so we will mark today as a “wild-card” as the next decline can begin at any time, though benefit goes to the bulls for a strong performance. Bulls will need to Clear and Convert (C&C) 15930 handle to push for higher levels targeting 15980 – 16000 zone. As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 15930, initially targets 15980 – 16000 zone. 

Bear Scenario: Price sustains an offer below 15930, initially targets 15820 – 15800 zone.

PVA High Edge = 15957      PVA Low Edge = 15892     Prior POC = 15905

Range Projections and Key Levels (NQ) December 2023 (Z) Contract

HOD  ATR Range Projection: 16085; LOD ATR Range Projection: 15640; 3 Day Central Pivot: 15746; 3 Day Cycle Target: 15876; 10 Day Average True Range: 240; VIX: 14

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.

Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.

This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

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

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