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 to in a stair-step fashion, closing midzone. Prior range was 34 handles on 1.078M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Futures Contract ROLLOVER is now December (Z). Premium is +49.50. Overnight bid is elevating price to Breakout Level 1 (BL1). Ten Day Average Range measures 44 handles. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4515, initially targets 4525 – 4530 zone.
Bear Scenario: Price sustains an offer below 4515, initially targets 4495 – 4490 zone.
PVA High Edge = 4519 PVA Low Edge = 4504 Prior POC = 4515
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4553; LOD ATR Range Projection: 4488; 3 Day Central Pivot: 4412; 3 Day Cycle Target: 4542; 10 Day Average True Range 44; VIX: 14
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2 (CD2): Normal CD2 as price consolidated to in a stair-step fashion, closing midzone. Prior range was 167 handles on 538k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Futures Contract ROLLOVER is now December (Z). Premium is +196.25. Overnight bid is elevating price to Breakout Level 1 (BL1). Ten Day Average Range measures 214 handles. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15515, initially targets 15590 – 15600 zone.
Bear Scenario: Price sustains an offer below 15515, initially targets 15415 – 15405 zone.
PVA High Edge = 15662 PVA Low Edge = 15480 Prior POC = 15515
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 15707; LOD ATR Range Projection: 15383; 3 Day Central Pivot: 15530; 3 Day Cycle Target: 15713; 10 Day Average True Range: 215; 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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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