Markets (Top Stories)
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Markets extended this cycle’s rally hitting 5100 and new All-Time Highs. What more can be said? Prior range was 92 handles on 1.658M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): All cycle levels have been exceeded during this “ultra-strong” rally. We will mark today as a “wild-card”, with bullish momentum firmly intact, though given that today’s session is Friday, the potential exists for a “walk-away” trade.
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 5095, initially targets 5105 – 5110 zone.
Bear Scenario: Price sustains an offer below 5095, initially targets 5085 – 5080 zone.
PVA High Edge = 5107 PVA Low Edge = 5070 Prior POC = 5098
Range Projections (ES) March 2024 (H) ***click links to access PTG Daily Range Calculator
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Markets extended this cycle’s rally hitting 18000 plus+ and closing near high of the day. What more can be said? Nvidia (NVDA) is simply a “powerhouse” force on the markets. Prior range was 411 handles on 745k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): All cycle levels have been exceeded during this “ultra-strong” rally. We will mark today as a “wild-card”, with bullish momentum firmly intact, though given that today’s session is Friday, the potential exists for a “walk-away” trade.
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 18000, initially targets 18085 – 18135 zone.
Bear Scenario: Price sustains an offer below 18000, initially targets 17950 – 17920 zone.
PVA High Edge = 18086 PVA Low Edge = 17903 Prior POC = 18058
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.
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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