Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar (Dec 3rd – 8th)
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Price continued this cycle’s rally fulfilling upside objectives. Prior range was 45 handles on 1.818M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (4586) has been satisfied, so we will mark today as a “wild-card” as the next decline can begin at any time, though benefit goes to the bulls for a strong performance. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4595, initially targets 4610 – 4615 zone.
Bear Scenario: Price sustains an offer below 4595, initially targets 4585 – 4575 zone.
PVA High Edge = 4606 PVA Low Edge = 4574 Prior POC = 4600
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4628; LOD ATR Range Projection: 4574; 3 Day Central Pivot: 4566; 3 Day Cycle Target: 4586; 10 Day Average True Range 30; VIX: 12
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Price continued this cycle’s rally though there still remains further upside potential. Prior range was 186 handles on 615k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Target (16156) has yet to be satisfied, so we will mark today as a “wild-card” as the next decline can begin at any time, though benefit goes to the bulls for a strong performance. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 16025, initially targets 16085 – 16100 zone.
Bear Scenario: Price sustains an offer below 16025, initially targets 15955 – 15945 zone.
PVA High Edge = 16034 PVA Low Edge = 15929 Prior POC = 16019
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 16172; LOD ATR Range Projection: 15842; 3 Day Central Pivot: 16025; 3 Day Cycle Target: 16156; 10 Day Average True Range: 284; 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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