Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): Upper Target Zone (4825 – 4830) as outlined in DTS 12.20.23 was fulfilled and ultimately “capped” the upside to this Positive 3-Day Cycle. Prior range was 87 handles on 1.623M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Prior session’s declined has pushed down to “key” 4750 level. We’ll be looking for stabilization from yesterday’s “liquidation break.” As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4750, initially targets 4770 – 4775 zone.
Bear Scenario: Price sustains an offer below 4750, initially targets 4725 – 4720 zone.
PVA High Edge = 4830 PVA Low Edge = 4771 Prior POC = 4822
Range Projections and Key Levels (ES) March 2024 (H) Contract
HOD ATR Range Projection: 4797; LOD ATR Range Projection: 4713; 3 Day Central Pivot: 4789; 3 Day Cycle Target: 4792; 10 Day Average True Range 46; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Upper Target Zone (17055 – 17075) as outlined in DTS 12.20.23 was fulfilled and ultimately “capped” the upside to this Positive 3-Day Cycle. Prior range was 315 handles on 643k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Prior session’s declined has pushed down to 16765 level. We’ll be looking for stabilization from yesterday’s “liquidation break.” As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 16800, initially targets 16885 – 16900 zone.
Bear Scenario: Price sustains an offer below 16800, initially targets 16698 – 16680 zone.
PVA High Edge = 17073 PVA Low Edge = 16878 Prior POC = 17036
Range Projections and Key Levels (NQ) March 2024 (H) Contract
HOD ATR Range Projection: 17006; LOD ATR Range Projection: 16597; 3 Day Central Pivot: 16920; 3 Day Cycle Target: 17120; 10 Day Average True Range: 216; VIX: 13
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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