Markets (Top Stories)
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3: Three-Day Cycle Targets had been fulfilled during Cycle Day 2 (CD2), so, today’s objective was to extend the current rally. Price did “peek-a-boo” above CD2 high (5149.25), but failed to sustain a bid. Hence, reversal back into RTH range, closing at the Lower Value Edge (5137.50). Range was 25 handles on 1.150M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Normal for a CD1 is a decline (which began during prior session) targeting 5123 handle. Yesterday was a range day with a bearish close, though overall bullish pattern, a corrective pullback can unfold at any time (as noted in previous briefings).
We’ll need to see how today’s session unfolds. Bulls will be to recover 5142 handle, whereas Bears are looking for continued push lower to CD1 Average Decline target (5123) as noted above.
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.
Scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5135, initially targets 5145 – 5148 zone.
Bear Scenario: Price sustains an offer below 5135, initially targets 5125 – 5120 zone.
PVA High Edge = 5145 PVA Low Edge = 5136 Prior POC = 5140
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 90% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
Range Projections (ES) March 2024 (H)
- BULL ATR Range Projection >>> 5182
- BEAR ATR Range Projection >>> 5085
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Three-Day Cycle Targets had been fulfilled during Cycle Day 2 (CD2), so, today’s objective was to extend the current rally. Price did “peek-a-boo” above CD2 high (18372.75), but was immediately rejected, reversing back into RTH range, closing on the lows. Range was 143 handles on 559k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Normal for a CD1 is a decline (which began during prior session) targeting 18144 handle. Yesterday was a range day with a bearish close, though overall bullish pattern, a corrective pullback can unfold at any time (as noted in previous briefings).
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.
Scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 18240, initially targets 18305 – 18335 zone.
Bear Scenario: Price sustains an offer below 18240, initially targets 18165 – 18145 zone.
PVA High Edge = 18335 PVA Low Edge = 18290 Prior POC = 18303
Range Projections (NQ) March 2024 (H)
- BULL ATR Range Projection >>> 18506
- BEAR ATR Range Projection >>> 17985
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