Markets (Top Stories)
Source: seekingalpha.com
Economic Calendar
1:00 PM Results of $40B, 3-Year Note Auction
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): Positive Three-Day Cycle as price traded securely above CD1 Low (4419.50) throughout the session as a neutral balance day. Prior range was 37 handles on 1.307M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4406 handle. We’ll use 4445 as today’s Line-in-Sand reference level as price continues to consolidate. Traders are in neutral awaiting this week’s CPI print tomorrow. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4445, initially targets 4455 – 4465 zone.
Bear Scenario: Price sustains an offer below 4445, initially targets 4435 – 4425 zone.
PVA High Edge = 4441 PVA Low Edge = 4430 Prior POC 4438
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
HOD ATR Range Projection: 4479; LOD ATR Range Projection: 4415; 3 Day Central Pivot: 4444; 3 Day Cycle Target: 4498; 10 Day Average True Range 40; VIX: 14
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Positive Three-Day Cycle as price traded securely above CD1 Low (15111.50) throughout the session as a neutral balance day. Prior range was 155 handles on 596k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 15056 handle. We’ll use 15200 as today’s Line-in-Sand reference level as price continues to consolidate. Traders are in neutral awaiting this week’s CPI print tomorrow. As such, estimated scenarios to consider for today’s trading
Bull Scenario: Price sustains a bid above 15200, initially targets 15240 – 15250 zone.
Bear Scenario: Price sustains an offer below 15200, initially targets 15150 – 15140 zone.
PVA High Edge = 15188 PVA Low Edge = 15126 Prior POC = 15166
Range Projections and Key Levels (NQ) Sept 2023 (U) Contract
HOD ATR Range Projection: 15384; LOD ATR Range Projection: 15029; 3 Day Central Pivot: 15211; 3 Day Cycle Target: 15428; 10 Day Average True Range: 208; 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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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