Markets (Prime Tales)
Supply: SeekingAlpha.com
Financial Calendar
https://www.investing.com/economic-calendar/
S&P 500
***Written for contribution to MrTopStep’s “The Opening Print” publication.
Prior Session was Cycle Day 1 (CD1): Markets declined as anticipated, although CPI Report was the catalyst for a “long-liquidation”, surpassing all statistically excessive cycle ranges. (Observe: This can have the impact of recalculating goal projections for future cycles) Prior vary was 103 handles on 2.003M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Late day rally off excessive lows recovered value again to 5-Day POC (4970). Regular for Cycle Day 2 is for consolidation of current wide-range exercise. Market volatility has now elevated, with expectations to stay elevated for the rapid time period, which ought to present ample intra-day buying and selling alternatives. Our day by day plan stays unchanged. Keep versatile and in-alignment with the first intra-day forces. As such, eventualities to think about for right now’s buying and selling.
Bull Situation: Value sustains a bid above 4970, initially targets 4990 – 4995 zone.
Bear Situation: Value sustains a suggestion beneath 4970, initially targets 4960 – 4955 zone.
PVA Excessive Edge = 4990 PVA Low Edge = 4960 Prior POC = 4970
*****The 3 Day Cycle has a 90% chance of fulfilling Optimistic Cycle Statistics masking 12 years of recorded monitoring historical past.
For extra detailed info for each bullish and bearish projected targets, please go to: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet beneath:
Hyperlink to entry full Cycle Spreadsheet > > Cycle Day 2 (CD2)
Vary Projections (ES) March 2024 (H)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Markets declined as anticipated, although CPI Report was the catalyst for a “long-liquidation”, surpassing all statistically excessive cycle ranges. (Observe: This can have the impact of recalculating goal projections for future cycles) Prior vary was 421 handles on 841k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Late day rally off excessive lows recovered value again to 5-Day POC (17675). Regular for Cycle Day 2 is for consolidation of current wide-range exercise. Market volatility has now elevated, with expectations to stay elevated for the rapid time period, which ought to present ample intra-day buying and selling alternatives. Our day by day plan stays unchanged. Keep versatile and in-alignment with the first intra-day forces. As such, eventualities to think about for right now’s buying and selling.
Bull Situation: Value sustains a bid above 17675, initially targets 17760 – 17790 zone.
Bear Situation: Value sustains a suggestion beneath 17675, initially targets 17610 – 17600 zone.
PVA Excessive Edge = 17747 PVA Low Edge = 17597 Prior POC = 17675
Vary Projections (NQ) March 2024 (H)
Oil inventories in enormous upside shock, rising by 8.5M barrels final week : API
rose by about 8.5 million barrels for the week ended Feb. 9, in contrast with a construct of 674,000 barrels reported by the API for the earlier week. Economists have been anticipating a rise of about 2.6M barrels.
The API information additionally confirmed that gasoline inventories fell by about 7.2 million barrels, whereas distillate stockpiles fell by 4.0M barrels, confounding expectations for a draw of about 1 million barrels and a pair of.2M barrels, respectively.
The official authorities stock report due Wednesday is predicted to point out weekly U.S. decreased by about 2.6M barrels final week.
Supply: investing/comCommerce Technique: Our tactical commerce technique will merely stay unaltered…We’ll be versatile to commerce each lengthy and quick aspect from Determination Pivot Ranges. Proceed to deal with Bull/Bear Stackers and Premium/Reductions. As all the time, remaining in alignment with dominant intra-day pressure will increase chances of manufacturing successful trades.
Keep Targeted…Non-Biased…Disciplined ALWAYS USE STOPS!
Good Buying and selling…David
“Understanding is just not sufficient, We should APPLY. Prepared is just not sufficient, We should DO.” –Bruce Lee
*****This commerce technique report is disseminated for “training solely” and shouldn’t be considered in any means as a suggestion to purchase or promote futures merchandise.”
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
IMPORTANT NOTICE! No illustration is being made that the usage of this technique or any system or buying and selling methodology will generate earnings. Previous efficiency is just not essentially indicative of future outcomes. There’s substantial threat of loss related to buying and selling securities and choices on equities. Solely threat capital ought to be used to commerce. Buying and selling securities is just not appropriate for everybody.
Disclaimer: Futures, Choices, and Forex buying and selling all have giant potential rewards, however in addition they have giant potential threat. You have to pay attention to the dangers and be keen to just accept them with a purpose to spend money on these markets. Don’t commerce with cash you possibly can’t afford to lose.
This web site is neither a solicitation nor a suggestion to Purchase/Promote futures, choices, or currencies. No illustration is being made that any account will or is more likely to obtain earnings or losses much like these mentioned on this site. The previous efficiency of any buying and selling system or methodology is just not essentially indicative of future outcomes.
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
