Markets (Top Stories)
Economic Calendar
Source: Investing.com
S&P 500 (ES)
Prior Session was Cycle Day 1: Extreme CD1 as price declined and even surpassed 5061 Statistical Deviation Level, establishing a low at 5051. Range was 97 handles on 1.583M contracts exchanged.
NOTE: Primary Objective for Cycle Day 1 is to establish a LOW from which to stage the next rally. This session was a “textbook” Cycle Day 1
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Today’s BIG EVENT is the FOMC Rate Decision and Presser. Given the aggressive sell-off in the prior session, we’ll be a bit more conservative in outlining the potential market response to JPOW’s Presser Q&A. We’ll let Mr. Market be our guide.
We have created a new word: VOLATUNITY: It’s the cross between Volatility & Opportunity. Meaning, we should embrace volatility to create profit opportunities with our trading strategies.
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5050, initially targets 5075 – 5085 zone.
Bear Scenario: Price sustains an offer below 5050, initially targets 5035 – 5030 zone.
PVA High Edge = 5145 PVA Low Edge = 5094 Prior POC = 5136
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 >>> 5122
- BEAR ATR Range Projection >>> 4986
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Extreme CD1 as price declined surpassing Statistical Deviation Levels, establishing a low at 17473.50. Range was 446 handles on 1.583M contracts exchanged.
NOTE: Primary Objective for Cycle Day 1 is to establish a LOW from which to stage the next rally. This session was a “textbook” Cycle Day 1
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Today’s BIG EVENT is the FOMC Rate Decision and Presser. Given the aggressive sell-off in prior session, we’ll be a bit more conservative in outlining the potential market response to JPOW’s Presser Q&A. We’ll let Mr. Market be our guide.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 17475, initially targets 17585 – 17595 zone.
Bear Scenario: Price sustains an offer below 17475, initially targets 17400 – 17375 zone.
PVA High Edge = 17833 PVA Low Edge = 17503 Prior POC = 17691
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 17805
- BEAR ATR Range Projection >>> 17166
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