Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Price fulfilled initial upside target zone (4590 – 4595) outlined in prior DTS Briefing 12.6.23. Bulls failed to sustain bid and as such reversal unfolded as sellers persistently kept selling throughout the day fulfilling lower end Line-in-Sand (LIS) 4555 handle. Prior range was 46 handles on 1.712M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Key Decision Point (DP) as price is testing the lower end (4555 – 4550) of the multi-day composite range. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4555, initially targets 4570 – 4575 zone.
Bear Scenario: Price sustains an offer below 4555, initially targets 4530 – 4525 zone.
PVA High Edge = 4593 PVA Low Edge = 4569 Prior POC = 4588
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4587; LOD ATR Range Projection: 4522; 3 Day Central Pivot: 4572; 3 Day Cycle Target: 4626; 10 Day Average True Range 34; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Price fulfilled initial upside target zone (15980 – 16000) outlined in prior DTS Briefing 12.6.23. Bulls failed to sustain bid and as such reversal unfolded as sellers persistently kept selling throughout the day closing near low of the day. Prior range was 235 handles on 662k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Statistic will be satisfied should price trade above CD1 Low (15761) during RTH. We will mark today as a “wild-card” as price is at lower end of multi-day composite range, which is a key Decision Point. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15800, initially targets 15875 – 15900 zone.
Bear Scenario: Price sustains an offer below 15800, initially targets 15700 – 15690 zone.
PVA High Edge = 15965 PVA Low Edge = 15860 Prior POC = 15875
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 15998; LOD ATR Range Projection: 15627; 3 Day Central Pivot: 15875; 3 Day Cycle Target: 16041; 10 Day Average True Range: 197; 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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