Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): Positive Three-Day Cycle as price consolidated above CD1 Low during the RTH Session. Prior range was 34 handles on 911k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 4509.50. Price action is still categorized as a consolidation between 4495 – 4545 edges. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4535, initially targets 4545 – 4550 zone.
Bear Scenario: Price sustains an offer below 4535, initially targets 4520 – 4515 zone.
PVA High Edge = 4542 PVA Low Edge = 4427 Prior POC = 4538
Range Projections and Key Levels (ES) December 2023 (Z) Contract
HOD ATR Range Projection: 4566; LOD ATR Range Projection: 4496; 3 Day Central Pivot: 4515; 3 Day Cycle Target: 4566; 10 Day Average True Range 41; VIX: 14
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Positive Three-Day Cycle as price consolidated above CD1 Low during the RTH Session. Prior range was 203 handles on 459k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 15585. Price action is still categorized as a consolidation between 15360 – 15690 edges. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15660, initially targets 15700 – 15720 zone.
Bear Scenario: Price sustains an offer below 15660, initially targets 15615 – 15600 zone.
PVA High Edge = 15632 PVA Low Edge = 15542 Prior POC = 15578
Range Projections and Key Levels (NQ) December 2023 (Z) Contract
HOD ATR Range Projection: 15823; LOD ATR Range Projection: 15474; 3 Day Central Pivot: 15532; 3 Day Cycle Target: 15909; 10 Day Average True Range: 206; 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
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