Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 2 (CD2): Normal CD2 as price consolidated recent gains ending positive FOMC week. Prior range was 58 handles on 1.492M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price has fulfilled Cycle objectives to secure a Positive Three-Day Cycle Statistic. Today is final trading session for July, with some potential “window-dressing.” Bulls remain in firm control and it is theirs to lose. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4618, initially targets 4626 – 4633 zone.
Bear Scenario: Price sustains an offer below 4618, initially targets 4600 – 4595 zone.
PVA High Edge = 4615 PVA Low Edge = 4598 Prior POC = 4606
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
HOD ATR Range Projection: 4637; LOD ATR Range Projection: 4575; 3 Day Central Pivot: 4590; 3 Day Cycle Target: 4595; 10 Day Average True Range 42; VIX: 13
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Normal CD2 as price consolidated recent gains ending positive FOMC week. Prior range was 392 handles on 829k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price has fulfilled Cycle objectives to secure a Positive Three-Day Cycle Statistic. Today is final trading session for July, with some potential “window-dressing.” Bulls remain in firm control and it is theirs to lose. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15800, initially targets 15910 – 15940 zone.
Bear Scenario: Price sustains an offer below 15800, initially targets 15750 – 15720 zone.
PVA High Edge = 15885 PVA Low Edge = 15781 Prior POC = 15850
Range Projections and Key Levels (NQ) Sept 2023 (U) Contract
HOD ATR Range Projection: 16048; LOD ATR Range Projection: 15660; 3 Day Central Pivot: 15685; 3 Day Cycle Target: 158007; 10 Day Average True Range: 256; 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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