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 day saw price pullback sharply from upper range edge to test 3 Day Central Pivot Zone where buyers responded to the weakness, rebounding back, closing out the week @ 4800. Prior range was 37 handles on 1.260M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): There remains room to push higher to fulfill 3-Day Cycle Target (4835), though we will mark this day as a “wild-card” post holiday as Cycle Statistic has been satisfied. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4805, initially targets 4820 – 4825 zone.
Bear Scenario: Price sustains an offer below 4805, initially targets 4790 – 4785 zone.
PVA High Edge = 4817 PVA Low Edge = 4801 Prior POC = 4806
Range Projections and Key Levels (ES) March 2024 (H) Contract
HOD ATR Range Projection: 4845; LOD ATR Range Projection: 4766; 3 Day Central Pivot: 4786; 3 Day Cycle Target: 4835; 10 Day Average True Range 45; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): This cycle day saw price pullback sharply from upper range edge to test 3 Day Central Pivot Zone where buyers responded to the weakness, rebounding back, closing out the week @ 16962. Prior range was 180 handles on 631k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): There remains room to push higher to fulfill 3-Day Cycle Target (17120), though we will mark this day as a “wild-card” post holiday as Cycle Statistic has been satisfied. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 17000, initially targets 17050 – 17060 zone.
Bear Scenario: Price sustains an offer below 17000, initially targets 16955 – 16945 zone.
PVA High Edge = 16873 PVA Low Edge = 16748 Prior POC = 16828
Range Projections and Key Levels (NQ) March 2024 (H) Contract
HOD ATR Range Projection: 17029; LOD ATR Range Projection: 16966; 3 Day Central Pivot: 16914; 3 Day Cycle Target: 17120; 10 Day Average True Range: 200; 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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