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Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Previous Session was Cycle Day 1 (CD1): Price made a new Cycle Low at 4866 as an aggressive FED dampened the market’s recent interest rate cut enthusiasm. Fed’s Powell: “Based on today’s meeting, I don’t think we will have a rate cut in March.” The market for the closing sales imbalance tipped the scale at $7 billion. The previous range was 72 handles on 2.157 million contracts traded.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us to Cycle Day 2 (CD2): The previous session’s deep decline is testing the bull’s resolve to keep the rally alive. Price tagged KEY POC Zone between 4865 – 4870 having closed at the lows of the day. What is normal for a Cycle Day 2 is the consolidation and consolidation of recent feed-induced selling. As always, stay flexible and aligned with the primal forces within the day. Hence, scenarios to consider for today’s trading.
Taurus Scenario: Price maintains a bid above 4875, initially targeting the 4895 – 4900 zone.
Bear Scenario: Price maintains a bid below 4875, initially targeting the 4855 – 4850 zone.
PVA High Edge = 4935 PVA Low Edge = 4896 Prior POC = 4910
March 2024 Range and Baseline Projections (ES) Convention (H).
HOD ATR Range Projection: 4917; View LOD ATR range: 4838; 3 day pivot: 4923; 3 Day Cycle Goal: 4932; Average True Range 10 days 45? VIX: 14
Nasdaq 100 (NQ)
Previous Session was Cycle Day 1 (CD1): Price made a new Cycle Low at 17221.50 as a hawkish FED curbed the market’s recent interest rate cut enthusiasm. Fed’s Powell: “Based on today’s meeting, I don’t think we will have a rate cut in March.” The market for the closing sales imbalance tipped the scale at $7 billion. The previous range was 262 handles in 803,000 contracts traded.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us to Cycle Day 2 (CD2): The previous session’s deep decline is testing the bull’s resolve to keep the rally alive. Price tagged KEY LVA 17220, finding responsive buyers. What is normal for a Cycle Day 2 is the consolidation and consolidation of recent feed-induced selling. As always, stay flexible and aligned with the primal forces within the day. Hence, scenarios to consider for today’s trading.
Taurus Scenario: Price maintains a bid above 17285, initially targeting the 17350 – 17380 zone.
Bear Scenario: Price maintains a bid below 17285, initially targeting the 17220 – 17200 zone.
PVA High Edge = 17422 PVA Low Edge = 17292 Prior POC = 17355
March 2024 Range and Baseline Projections (NQ) Agreement (H).
HOD ATR Range Projection: 17515; View LOD ATR range: 17068; 3 day pivot: 17502; 3 Day Cycle Goal: 17539; Average True Range 10 days: 249 VIX: 14
Commercial Strategy: Our regular trading strategy will simply remain unchanged…We will be flexible in trading both long and short from the Aggregate Decision Levels. Keep focusing on Bulls/Bear Stackers and Premium/Discounts. As always, staying in line with the dominant force within the day increases the chances of producing profitable trades.
Stay focused…Unbiased…Disciplined ALWAYS USE STOPS!
Good trading…David
“Knowing is not enough, we have to apply. Willing is not enough, we must DO.” –Bruce Lee
*****This trading strategy report is distributed for “educational purposes only” and should in no way be construed as a recommendation to buy or sell futures.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
IMPORTANT NOTE! No representation is made that the use of this strategy or any trading system or methodology will result in profits. Past performance is not necessarily indicative of future results. There is a significant risk of loss associated with trading securities and stock options. Only venture capital should be used for trading. Securities trading is not for everyone.
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