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Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Previous Session was Cycle Day 1 (CD1): The regular CD1 as price declined, albeit shallowly, creating a new cycle low at 5003.75. The price consolidated the previous session’s 5000 achievement holding the bid above this level and retesting the previous high (5020) at the close. Textbook Range Neutral Day. The previous range was 16 handles at 951,000 contracts traded.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us to Cycle Day 2 (CD2): Today is FRIDAY, so with no financial reports on the treasury, the price can move freely on its own. Further upside extension initially measured the 5025 – 5035 zone. There is also the possibility of a “walk” end of the week if the bulls cannot secure an extension of the upside area. We will mark 5015 as today’s Line-in-Sand (LIS). 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 bid above 5015, initially targets 5025 – 5035 zone.
Bear Scenario: Price maintains a bid below 5015, initially targeting the 5000 – 4995 zone.
PVA High Edge = 5015 PVA Low Edge = 5009 Prior POC = 5012
March 2024 Range and Baseline Projections (ES) Convention (H).
HOD ATR Range Projection: 5062; View LOD ATR range: 4967; 3 day pivot: 4994; 3 Day Cycle Goal: 5045; Average True Range 10 days 49? VIX: 13
Nasdaq 100 (NQ)
Previous Session was Cycle Day 1 (CD1): The regular CD1 as price declined, albeit shallowly, creating a new cycle low at 17792.25. Price consolidated holding bid above 17800 and pushing above previous high. The previous range was 104 handles in 465k contracts traded.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us to Cycle Day 2 (CD2): Today is FRIDAY, so with no financial reports on the treasury, the price can move freely on its own. Further upside extension initially measured 17911 – 17933 zone. There is also the possibility of a “walk” end of the week if the bulls cannot secure an extension of the upside area. We will mark 17845 as today’s Line-in-Sand (LIS). 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 17845, initially targeting the 17911 – 17933 zone.
Bear Scenario: Price maintains a bid below 17845, initially targeting the 17800 – 17780 zone.
PVA High Edge = 17833 PVA Low Edge = 17838 Prior POC = 17846
March 2024 Range and Baseline Projections (NQ) Agreement (H).
HOD ATR Range Projection: 18107; View LOD ATR range: 17622; 3 day pivot: 17765; 3 Day Cycle Goal: 17933; Average True Range 10 days: 255 VIX: 13
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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