Markets
Source: SeekingAlpha.com
Economic Calendar
12:30 PM Investor Movement Index
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Normal for CD1 as price declined and established a new cycle low at 4132.50. Prior range was 61 handles on 2.259M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is back n fill consolidation to work off recent activity. Key Support Marker is the 4100 handle. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4150, initially targets 4170 – 4175 zone.
Bear Scenario: Price sustains an offer below 4150, initially targets 4115 – 4110 zone.
PVA High Edge = 4170 PVA Low Edge = 4140 Prior POC = 4147
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 4175; LOD ATR Range Projection: 4074; 3 Day Central Pivot: 4148; 3 Day Cycle Target: 4221; 10 Day Average True Range 68; VIX: 19
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal for CD1 as price declined and established a new cycle low at 12551.25. Prior range was 326 handles on 811k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
Today is Cycle Day 2 (CD2)…Normal for CD2 is back n fill consolidation recent activity. Key Support Marker is the 12450 on any back test. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12600, THEN initial upside estimate targets 12755– 12765 zone.
Bear Scenario: IF Bears sustains offer below 12600, THEN initial downside estimate targets 12500 – 12470 zone.
PVA High Edge = 12736 PVA Low Edge = 12578 Prior POC = 12644
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 12781; LOD ATR Range Projection: 12281; 3 Day Central Pivot: 12584; 3 Day Cycle Target: 12968; 10 Day Average True Range: 323; VIX: 19
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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