Markets (Top Stories)
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Cash markets being closed for President’s Day reflected the light and narrow trading in the derivative futures markets. Prior range was 13 handles on 116k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): As long as price trades above CD1 Low (5013) during RTH, then the 3-Day Cycle Statistic (90%) will be satisfied. Primary Cycle Target (5054) has been fulfilled, with Secondary Target measuring 5084 handle.
Bulls would need to Clear & Convert (C&C) 5055 – 5060 zone for this level to be “in-play.” Bears are looking for a Violation of CD1 Low (5013) to break lower targeting 4972.
That said, our daily plan remains unchanged. Stay flexible and in-alignment with the primary intra-day forces. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5010, initially targets 5025 – 5030 zone.
Bear Scenario: Price sustains an offer below 5010, initially targets 4995 – 4990 zone.
PVA High Edge = 5026 PVA Low Edge = 5021 Prior POC = 5023
Range Projections (ES) March 2024 (H) ***click links to access PTG Daily Range Calculator
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Cash markets being closed for President’s Day reflected the light and narrow trading in the derivative futures markets. Prior range was 81 handles on 95,556 contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): As long as price trades above CD1 Low (17715) during RTH, then the 3-Day Cycle Statistic (90%) will be satisfied. Primary Cycle Target (17856) has been fulfilled, with Secondary Target measuring 18051 handle.
Bulls would need to Clear & Convert (C&C) 17920 for this level to be “in-play.” Bears are looking for a Violation of CD1 Low (17715) to break lower targeting 17572.
That said, our daily plan remains unchanged. Stay flexible and in-alignment with the primary intra-day forces. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 17715, initially targets 17760 – 17780 zone.
Bear Scenario: Price sustains an offer below 17715, initially targets 17670 – 17640 zone.
PVA High Edge = 17790 PVA Low Edge = 17762 Prior POC = 17780
Range Projections (NQ) March 2024 (H)
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.”
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
IMPORTANT NOTICE! No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. There is substantial risk of loss associated with trading securities and options on equities. Only risk capital should be used to trade. Trading securities is not suitable for everyone.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN