Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined establishing a new low at 4399.25. Prior range was 31 handles on 1.620M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price held key LIS (4405) as outlined in prior DTS 6.28.23 briefing. We’ll use 4420 as today’s Line-in-Sand (LIS) as bulls maintain control validating the internal strength of this current up trend move. Upper Key Target Zone remains 4445 – 4450 as the clock ticks down to quarter end. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4420, initially targets 4445 – 4450 zone.
Bear Scenario: Price sustains an offer below 4420, initially targets 4410 – 4405 zone.
PVA High Edge = 4420 PVA Low Edge = 4405 Prior POC = 4410
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
HOD ATR Range Projection: 4470; LOD ATR Range Projection: 4382; 3 Day Central Pivot: 4401; 3 Day Cycle Target: 4440; 10 Day Average True Range 47; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined establishing a new low at 15021.25. Prior range was 197 handles on 654 contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price held key LIS (15010) as outlined in prior DTS 6.28.23 briefing. We’ll use 15175 as today’s Line-in-Sand (LIS) as bulls maintain control validating the internal strength of this current up trend move. Upper Key Target Zone remains 15260 – 15290 as the clock ticks down to quarter end. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15175, initially targets 15260 – 15290 zone.
Bear Scenario: Price sustains an offer below 15175, initially targets 15120 – 15100 zone.
PVA High Edge = 15140 PVA Low Edge = 15042 Prior POC = 15062
Range Projections and Key Levels (NQ) Sept 2023 (U) Contract
HOD ATR Range Projection: 15419; LOD ATR Range Projection: 14921; 3 Day Central Pivot: 15040; 3 Day Cycle Target: 15273; 10 Day Average True Range: 263; VIX: 13
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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