Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): Failed Three-Day Cycle as price could not recover back above the 4515 level during the RTH Session. Open Gap Down held as persistence selling continued throughout the session, fulfilling 4450 downside target outlined in the PTG Trading Room. Prior range was 56 handles on 1.524M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 4470, which was exceeded in the prior session. We’ll mark 4470 as today’s KEY Line in Sand. Bulls objective is to recover lost 4490 handle at minimum. Bears want to continue the pressure to retest 4450 handle. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4470, initially targets 4490 – 4495 zone.
Bear Scenario: Price sustains an offer below 4470, initially targets 4455 – 4450 zone.
PVA High Edge = 4479 PVA Low Edge = 4455 Prior POC = 4470
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
HOD ATR Range Projection: 4522; LOD ATR Range Projection: 4415; 3 Day Central Pivot: 4500; 3 Day Cycle Target: 4502; 10 Day Average True Range 55; VIX: 14
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Positive Three-Day Cycle as price barely skimmed above the 15500 before reversing lower. Long liquidation fired on all cylinders, driving price down to 15320. Prior range was 222 handles on 587k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 15317, which was fulfilled in the prior session. We’ll mark 15385 as today’s KEY Line in Sand. Bulls objective is to recover lost 15450 handle at minimum. Bears want to continue the pressure to retest 15320 handle. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15385, initially targets 15425 – 15435 zone.
Bear Scenario: Price sustains an offer below 15385, initially targets 15345 – 15320 zone.
PVA High Edge = 15432 PVA Low Edge = 15322 Prior POC = 15380
Range Projections and Key Levels (NQ) Sept 2023 (U) Contract
HOD ATR Range Projection: 15652; LOD ATR Range Projection: 15120; 3 Day Central Pivot: 15480; 3 Day Cycle Target: 15610; 10 Day Average True Range: 273; 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