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Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Previous Session was Cycle Day 1 (CD1): Normal CD1 as price declined, establishing a new Cycle Low at 4959, which was the Target Master predicted low level. The latest “Hour of Power” saw the price climb higher at the close ahead of Nvidia’s (NVDA) earnings release. The previous range was 61 handles on 1.408 million contracts traded.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us to Cycle Day 2 (CD2): The rally in the last hour was strong enough to drive the price higher, closing at the highs of the day. We will mark 5015 as today’s Line-in-Sand (LIS) as a three-day cycle target readings 5030. As always, stay flexible and aligned with the main intraday forces. Hence, scenarios to consider for today’s trading.
Taurus Scenario: Price maintains a bid above 5015, initially targeting the 5030 – 5035 zone.
Bear Scenario: Price maintains a bid below 5015, initially targeting the 5000 – 4995 zone.
PVA High Edge = 4985 PVA Low Edge = 4970 Prior POC = 4976
March 2024 Range and Baseline Projections (ES) Convention (H).
HOD ATR Range Projection: 5065; View LOD ATR range: 477; 3 day pivot: 5005; 3 Day Cycle Goal: 5030; Average True Range 10 days 50? VIX: 13
****Continuation in the morning for overnight GLOBEX trading****
PTGDavid : (7:56:49 AM) : ES 20 day Average Daily Range (ADR) Target Met
Nasdaq 100 (NQ)
Previous Session was Cycle Day 1 (CD1): CD1 Normal as price declined, making a new Cycle Low at 17372, which was the predicted 20 ADR low. The latest “Hour of Power” saw the price climb higher at the close ahead of Nvidia’s (NVDA) earnings release. The previous range was 350 handles on 717k contracts traded.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us to Cycle Day 2 (CD2): The last hour rally was strong enough to meet the 3-Day Cycle Target (17705). Strong momentum is intact, so we’ll mark 17675 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 17675, initially targeting the 17770 – 17800 zone.
Bear Scenario: Price maintains a bid below 17675, initially targeting the 17620 – 17600 zone.
PVA High Edge = 17526 PVA Low Edge = 17442 Prior POC = 17471
March 2024 Range and Baseline Projections (NQ) Agreement (H).
HOD ATR Range Projection: 17938; View LOD ATR range: 17483; 3 day pivot: 17661; 3 Day Cycle Goal: 17705; Average True Range 10 days: 262 VIX: 13
****Continuation in the morning for overnight GLOBEX trading****
PTGDavid : (7:53:49 AM) : NQ 3 Day Cycle Xtreme Range Target
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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