Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): This cycle’s rally continued to expand as noted in prior DTS 11.2.23 fulfilling upside target 4233 handle, which represents the 50 week ema. Prior range was 82 handles on 1.726M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Key question traders are asking: “Is there more buying fuel or is the tank near empty? As you may already know as a subscriber to this Briefing or as a PTG Community Member, our primary trade premise is to stay aligned with dominant side (Bulls/Bears) until there is a structural price shift. This way we as traders we simply focus on price and stay away from the “prediction-game.” We’ll 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. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4325, initially targets 4345 – 4350 zone.
Bear Scenario: Price sustains an offer below 4325, initially targets 4315 – 4305 zone.
PVA High Edge = 4338 PVA Low Edge = 4303 Prior POC = 4333
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4389; LOD ATR Range Projection: 4268; 3 Day Central Pivot: 4248; 3 Day Cycle Target: 4265; 10 Day Average True Range 63; VIX: 15
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): This cycle’s rally continued to expand fulfilling upside TargetMaster 14993 handle. Prior range was 257 handles on 639k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Given the extent of this cycle’s explosive rally, we’ll 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. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 14925, initially targets 14995 – 15015 zone.
Bear Scenario: Price sustains an offer below 14925, initially targets 14885 – 14870 zone.
PVA High Edge = 15003 PVA Low Edge = 14918 Prior POC = 14994
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 15207; LOD ATR Range Projection: 14680; 3 Day Central Pivot: 14661; 3 Day Cycle Target: 14684; 10 Day Average True Range: 282; VIX: 15
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