Markets
Source: SeekingAlpha.com
Economic Calendar
8:30 Initial Jobless Claims
10:30 EIA Natural Gas Inventory
4:30 PM Fed Balance Sheet
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): Price range was contained within the Target Master Zones, and developed as a Neutral Range Balancing Day, with neither side (bulls/bears) gaining control. Prior day’s range was 31 handles on 1.749M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 3943.50. Bulls and Bears will still need to “duke-it-out” for control dominance. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3990, initially targets 4010 – 4015 zone.
Bear Scenario: Price sustains an offer below 3990, initially targets 3970 – 3965 zone.
PVA High Edge = 3998 PVA Low Edge = 3984 Prior POC = 3990
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 4042; LOD ATR Range Projection: 3940; 3 Day Central Pivot: 4020; 3 Day Cycle Target: 4058; 10 Day Average True Range 58; VIX: 19
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Price range was contained within the Target Master Zones, and developed as a Neutral Range Balancing Day, with neither side (bulls/bears) gaining control. Prior day’s range was 31 handles on 1.749M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 12012. Bulls and Bears will still need to “duke-it-out” for control dominance. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 12200, initially targets 12290 – 12295 zone.
Bear Scenario: Price sustains an offer below 12200, initially targets 12115 – 12110 zone.
PVA High Edge = 12208 PVA Low Edge = 12152 Prior POC = 12177
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 12408; LOD ATR Range Projection: 12010; 3 Day Central Pivot: 12265; 3 Day Cycle Target: 12545; 10 Day Average True Range: 236; 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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