Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Relatively shallow decline establishing a new cycle low at 4515 as Cash Market were closed for holiday. Prior range (Friday) was 40 handles on 1.354M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price pushed lower overnight testing the VOL TRIG (4501) where buyers responded, reversing the selling and pushing price back up to 4515 handle. We’ll mark this level as today’s “Over/Under” Line-in-Sand. Trading desks should now be near full staffing as summer has officially ended. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4515, initially targets 4530 – 4535 zone.
Bear Scenario: Price sustains an offer below 4515, initially targets 4505 – 4500 zone.
PVA High Edge = 4530 PVA Low Edge = 4521 Prior POC = 4528
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
HOD ATR Range Projection: 4555; LOD ATR Range Projection: 4465; 3 Day Central Pivot: 4423; 3 Day Cycle Target: 4556; 10 Day Average True Range 655 VIX: 14
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Relatively shallow decline establishing a new cycle low at 15500 as Cash Market were closed for holiday. Prior range (Friday) was 207 handles on 567k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price pushed lower overnight testing the Target Mater Breakout L1 (15430) where buyers responded, reversing the selling and pushing price back up to 15475 handle. We’ll mark this level as today’s “Over/Under” Line-in-Sand. Trading desks should now be near full staffing as summer has officially ended. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15475, initially targets 15505 – 15515 zone.
Bear Scenario: Price sustains an offer below 15475, initially targets 15430 – 15410 zone.
PVA High Edge = 15572 PVA Low Edge = 15528 Prior POC = 15554
Range Projections and Key Levels (NQ) Sept 2023 (U) Contract
HOD ATR Range Projection: 15700; LOD ATR Range Projection: 15252; 3 Day Central Pivot: 15537; 3 Day Cycle Target: 15803; 10 Day Average True Range: 282; 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