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 3-Day Cycle as price exceeded objectives and closed near highs of the week. Prior range was 66 handles on 1.695M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 4357.50. Markets are holding gains achieved last week during overnight trade, which is relatively light volume to kick-off the new week. We’ll continue to maintain a long biased as Bulls remain in-control. Of course any structural shift in price dynamics would prompt a reassessment of bias to stay in alignment with dominant force. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4375, initially targets 4400 – 4405 zone.
Bear Scenario: Price sustains an offer below 4375, initially targets 4355 – 4350 zone.
PVA High Edge = 4387 PVA Low Edge = 4365 Prior POC = 4380
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4438; LOD ATR Range Projection: 4322; 3 Day Central Pivot: 4304; 3 Day Cycle Target: 4415; 10 Day Average True Range 64; VIX: 15
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Positive 3-Day Cycle as price exceeded objectives and closed near highs of the week. Prior range was 303 handles on 625k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 15115. Markets are holding gains achieved last week during overnight trade, which is relatively light to kick-off the new week. We’ll continue to maintain a long biased as Bulls remain in-control. Of course any structural shift in price dynamics would prompt a reassessment of bias to stay in alignment with dominant force. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15160, initially targets 15230 – 15250 zone.
Bear Scenario: Price sustains an offer below 15160, initially targets 15125 – 15115 zone.
PVA High Edge = 15216 PVA Low Edge = 15076 Prior POC = 15184
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 15450; LOD ATR Range Projection: 14937; 3 Day Central Pivot: 14891; 3 Day Cycle Target: 15475; 10 Day Average True Range: 288; 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.”
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