Markets (Top Stories)
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3: Three-Day Cycle Target (5290) was easily fulfilled as price vaulted to fresh all-time highs on the heals of potentially three-rate cuts in 2024. This is what the market was awaiting confirmation and as such responded in-kind. Range was 64 handles on 1.320M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: With markets at ATH, price may extend further before the next decline unfolds. Average Decline for CD1 measures 5181.50. We want to be on watch for “follow-through failure” signal for potential pullback play. Continuation above CD3 High with sustained bid would imply potential further upside range expansion. We’ll mark 5290/5275 as today’s Line in the Sand (LIS)
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.
Scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5290, initially targets 5305 – 5310 zone.
Bear Scenario: Price sustains an offer below 5275, initially targets 5260 – 5255 zone.
PVA High Edge = 5233 PVA Low Edge = 5275 Prior POC = 5238
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 90% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
Range Projections (ES) June 2024 (M)
- BULL ATR Range Projection >>> 5354
- BEAR ATR Range Projection >>> 5243
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Three-Day Cycle Target (18571) was easily fulfilled as price vaulted to fresh all-time highs on the heals of potentially three-rate cuts in 2024. This is what the market was awaiting confirmation and as such responded in-kind. Range was 317 handles on 608k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: With markets at ATH, price may extend further before the next decline unfolds. Average Decline for CD1 measures 18062.25. We want to be on watch for “follow-through failure” signal for potential pullback play. Continuation above CD3 High with sustained bid would imply potential further upside range expansion. We’ll mark 18545 (P-High) as today’s Line in the Sand (LIS)
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.
Scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 18545, initially targets 18595 – 18615 zone.
Bear Scenario: Price sustains an offer below 18545, initially targets 18485 – 18465 zone.
PVA High Edge = 18240 PVA Low Edge = 18382 Prior POC = 18348
Range Projections (NQ) June 2024 (m)
- BULL ATR Range Projection >>> 18732
- BEAR ATR Range Projection >>> 18270
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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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