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 4561.75 (Z). Prior range was 52 handles on 1.424M 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 as price is pressing the upper edge of the multi-day composite consolidation range. As such, scenarios to consider for today’s trading.
NOTE: Contract Rollover to March (H) 2024 (52 point premium)
Bull Scenario: Price sustains a bid above 4660, initially targets 4670 – 4675 zone.
Bear Scenario: Price sustains an offer below 4660, initially targets 4645 – 4640 zone.
PVA High Edge = 4610 PVA Low Edge = 4588 Prior POC = 4608
Range Projections and Key Levels (ES) March 2024 (H) Contract
HOD ATR Range Projection: 4698; LOD ATR Range Projection: 4626; 3 Day Central Pivot: 4580; 3 Day Cycle Target: 4690; 10 Day Average True Range 39; VIX: 12
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined and established a new cycle low at 15888.25 (Z). Prior range was 230 handles on 525k 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 as price is pressing the upper edge of the multi-day composite consolidation range. As such, scenarios to consider for today’s trading.
NOTE: Contract Rollover to March (H) 2024 (210 point premium)
Bull Scenario: Price sustains a bid above 16300, initially targets 16355 – 16375 zone.
Bear Scenario: Price sustains an offer below 16300, initially targets 16240 – 16220 zone.
PVA High Edge = 16110 PVA Low Edge = 16013 Prior POC = 16100
Range Projections and Key Levels (NQ) March 2024 (H) Contract
HOD ATR Range Projection: 16488; LOD ATR Range Projection: 16108; 3 Day Central Pivot: 15959; 3 Day Cycle Target: 16513; 10 Day Average True Range: 214; 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
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