Markets (Top Stories)
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined, establishing a new Cycle Low at 4959, which was the Target Master projected low level. The final “Hour of Power” saw price rip higher into the close ahead of Nvidia’s (NVDA) earnings release. Prior range was 61 handles on 1.408M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): The final hour rally was forceful enough to drive price higher, closing on highs of the day. We’ll mark 5015 as today’s Line-in-Sand (LIS) as Three-Day Cycle Target measures 5030. As always, 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 5015, initially targets 5030 – 5035 zone.
Bear Scenario: Price sustains an offer below 5015, initially targets 5000 – 4995 zone.
PVA High Edge = 4985 PVA Low Edge = 4970 Prior POC = 4976
Range Projections and Key Levels (ES) March 2024 (H) Contract
HOD ATR Range Projection: 5065; LOD ATR Range Projection: 477; 3 Day Central Pivot: 5005; 3 Day Cycle Target: 5030; 10 Day Average True Range 50; VIX: 13
****Follow-Up Morning Note on overnight GLOBEX trading****
PTGDavid : (7:56:49 AM) : ES 20 Day Average Daily Range (ADR) Target Fulfilled
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined, establishing a new Cycle Low at 17372, which was the 20 ADR projected low level. The final “Hour of Power” saw price rip higher into the close ahead of Nvidia’s (NVDA) earnings release. Prior range was 350 handles on 717k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): The final hour rally was forceful enough to fulfill 3-Day Cycle Target (17705). Strong momentum is intact, so we’ll mark 17675 as today’s Line-in-Sand (LIS). As always, 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 17675, initially targets 17770 – 17800 zone.
Bear Scenario: Price sustains an offer below 17675, initially targets 17620 – 17600 zone.
PVA High Edge = 17526 PVA Low Edge = 17442 Prior POC = 17471
Range Projections and Key Levels (NQ) March 2024 (H) Contract
HOD ATR Range Projection: 17938; LOD ATR Range Projection: 17483; 3 Day Central Pivot: 17661; 3 Day Cycle Target: 17705; 10 Day Average True Range: 262 VIX: 13
****Follow-Up Morning Note on overnight GLOBEX trading****
PTGDavid : (7:53:49 AM) : NQ 3 Day Cycle Xtreme Range Target
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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