Markets (Top Stories)
Source: seekingalpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): Positive 3-Day Cycle Statistic was fulfilled as price rallied on the heels of the FED’s statement. Prior range was 56 handles on 1.714M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4398 handle (ESU). Price has declined during overnight trade activity fulfilling CD1 decline projection. Only key event remaining this week is Quadruple Options Expiration for tomorrow. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4400, initially targets 4415 – 4420 zone.
Bear Scenario: Price sustains an offer below 4400, initially targets 4390 – 4385 zone.
PVA High Edge = 4430 PVA Low Edge = 4410 Prior POC 4422
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
HOD ATR Range Projection: 4444; LOD ATR Range Projection: 4380; 3 Day Central Pivot: 4400; 3 Day Cycle Target: 4455; 10 Day Average True Range 45; VIX: 14
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Positive 3-Day Cycle Statistic was fulfilled as price rallied on the heels of the FED’s statement. Prior range was 267 handles on 664k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 15083 handle (NQU). Price has declined during overnight trade activity fulfilling CD1 decline projection. Only key event remaining this week is Quadruple Options Expiration for tomorrow. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15100, initially targets 15180 – 15200 zone.
Bear Scenario: Price sustains an offer below 15100, initially targets 15020 – 15000 zone.
PVA High Edge = 15186 PVA Low Edge = 15088 Prior POC = 15138
Range Projections and Key Levels (NQ) Sept 2023 (U) Contract
HOD ATR Range Projection: 15318; LOD ATR Range Projection: 14993; 3 Day Central Pivot: 15047; 3 Day Cycle Target: 15350; 10 Day Average True Range: 235; VIX: 14
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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