Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined and established a new cycle low at 4552. Prior range was 18 handles on 1.059M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is for two-way traffic consolidation to build energy for the next breakout. Markets continue to consolidate, so we’ll use same parameters as prior session. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4575, initially targets 4590 – 4595 zone.
Bear Scenario: Price sustains an offer below 4555, initially targets 4540 – 4535 zone.
PVA High Edge = 4565 PVA Low Edge = 4558 Prior POC = 4561
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4596; LOD ATR Range Projection: 4527; 3 Day Central Pivot: 4566; 3 Day Cycle Target: 4593; 10 Day Average True Range 36; VIX: 12
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined and established a new cycle low at 15938. Prior range was 150 handles on 499k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is for two-way traffic consolidation to build energy for the next breakout. Markets continue to consolidate, so we’ll use same parameters as prior session. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 16050, initially targets 16095 – 16135 zone.
Bear Scenario: Price sustains an offer below 15995, initially targets 15955 – 15940 zone.
PVA High Edge = 16048 PVA Low Edge = 15991 Prior POC = 16008
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 16179; LOD ATR Range Projection: 15820; 3 Day Central Pivot: 16030; 3 Day Cycle Target: 16226; 10 Day Average True Range: 192; VIX: 12
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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