Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Morning consolidation lead to price pushing higher fulfilling Target Zone (4670 – 75) outlined in prior DTS 12.11.23. Prior range was 27 handles on 1.023M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Targets have been fulfilled as today is the all-important Consumer Price Index (CPI) print. Always a “wild-card” reaction, so we’ll maintain our daily discipline and risk management. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4675, initially targets 4695 – 4700 zone.
Bear Scenario: Price sustains an offer below 4675, initially targets 4665 – 4660 zone.
PVA High Edge = 4670 PVA Low Edge = 4653 Prior POC = 4660
Range Projections and Key Levels (ES) March 2024 (H) Contract
HOD ATR Range Projection: 4716; LOD ATR Range Projection: 4637; 3 Day Central Pivot: 4633; 3 Day Cycle Target: 4700; 10 Day Average True Range 40; VIX: 12
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Morning consolidation lead to price pushing higher fulfilling Target Zone (16215 – 16225). Prior range was 202 handles on 240k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Targets have been fulfilled as today is the all-important Consumer Price Index (CPI) print. Always a “wild-card” reaction, so we’ll maintain our daily discipline and risk management. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 16450, initially targets 16560 – 16575 zone.
Bear Scenario: Price sustains an offer below 16450, initially targets 16340 – 16330 zone.
PVA High Edge = 16457 PVA Low Edge = 16348 Prior POC = 16437
Range Projections and Key Levels (NQ) March 2024 (H) Contract
HOD ATR Range Projection: 16661; LOD ATR Range Projection: 16237; 3 Day Central Pivot: 16267; 3 Day Cycle Target: 16172; 10 Day Average True Range: 220; 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.”
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