Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Price held Open Range bid and eventually traded higher throughout the session fulfilling TargetMaster Range Breakout Zone. Prior range was 38 handles on 1.007M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price has fulfilled primary 3-day Cycle Targets, with secondary targets as further potential. (see chart image) We’ll mark today’s session as a “wild-card” for direction. We’ll let Mr. Market decide and we’ll align in accordance. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4550, initially targets 4565 – 4570 zone.
Bear Scenario: Price sustains an offer below 4550, initially targets 4535 – 4530 zone.
PVA High Edge = 4557 PVA Low Edge = 4539 Prior POC = 4552
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
HOD ATR Range Projection: 4587; LOD ATR Range Projection: 4512; 3 Day Central Pivot: 4540; 3 Day Cycle Target: 4572; 10 Day Average True Range 40; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Price held Open Range bid and eventually traded higher throughout the session fulfilling TargetMaster Range Breakout Zone. Prior range was 221 handles on 513k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price has fulfilled primary 3-day Cycle Targets, with secondary targets as further potential. (see chart image) We’ll mark today’s session as a “wild-card” for direction. We’ll let Mr. Market decide and we’ll align in accordance. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15800, initially targets 15945 – 15975 zone.
Bear Scenario: Price sustains an offer below 15800, initially targets 15720 – 15710 zone.
PVA High Edge = 15825 PVA Low Edge = 15708 Prior POC = 15797
Range Projections and Key Levels (NQ) Sept 2023 (U) Contract
HOD ATR Range Projection: 16015; LOD ATR Range Projection: 15635; 3 Day Central Pivot: 15720; 3 Day Cycle Target: 15944; 10 Day Average True Range: 200; 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.”
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
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