Markets (Top Stories)
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price established a new cycle low at 4434.25. Heavy two-way trade flow created a neutral balanced session. Prior range was 37 handles on 1.443M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Overnight trade has price trading within prior range parameters, so we can initially anticipate continued consolidation action until the logjam can be broken. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4445, initially targets 4465 – 4470 zone.
Bear Scenario: Price sustains an offer below 4445, initially targets 4430 – 4425 zone.
PVA High Edge = 4459 PVA Low Edge = 4445 Prior POC = 4456
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
HOD ATR Range Projection: 4494; LOD ATR Range Projection: 4417; 3 Day Central Pivot: 4478; 3 Day Cycle Target: 4475; 10 Day Average True Range 51 VIX: 14
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Normal CD1 as price established a new cycle low at 15157. Heavy two-way trade flow created a neutral balanced session. Prior range was 238 handles on 623k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Overnight trade has price trading within prior range parameters, so we can initially anticipate continued consolidation action until the logjam can be broken. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15285, initially targets 15330 – 15340 zone.
Bear Scenario: Price sustains an offer below 15285, initially targets 15240 – 15230 zone.
PVA High Edge = 15288 PVA Low Edge = 15200 Prior POC = 15286
Range Projections and Key Levels (NQ) Sept 2023 (U) Contract
HOD ATR Range Projection: 15481; LOD ATR Range Projection: 15085; 3 Day Central Pivot: 15398; 3 Day Cycle Target: 15433; 10 Day Average True Range: 258; 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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