Markets (Top Stories)
Economic Calendar
Source: Investing.com
S&P 500 (ES)
Prior Session was Cycle Day 1: Shallow decline to this session as price held 5330 key Line in the Sand on low volatility consolidation ahead of tomorrow’s Nvidia (NVDA) earnings report. Range was 25 handles on 941k contracts exchanged
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: BIG Events today are FOMC Minutes @ 2pm and Nvidia’s (NVDA) earnings after the closing bell. Bulls remain firmly in-control as price is notching all-time highs. Volatility has been low, but could expand rapidly on reaction to either of today’s releases.
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 5335, initially targets 5350 – 5357 zone.
Bear Scenario: Price sustains an offer below 5335, initially targets 5325 – 5320 zone.
PVA High Edge = 5339 PVA Low Edge = 5326 Prior POC = 5333
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 >>> 5360
- BEAR ATR Range Projection >>> 5310
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Shallow decline as price established a new cycle low at 18678 on low volatility consolidation ahead of tomorrow’s Nvidia (NVDA) earnings report. Range was 130 handles on 421k contracts exchanged
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: BIG Events today are FOMC Minutes @ 2pm and Nvidia’s (NVDA) earnings after the closing bell. Bulls remain firmly in-control as volatility has been low, but could expand rapidly on reaction to either of today’s releases.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 18750, initially targets 18826 – 18858 zone.
Bear Scenario: Price sustains an offer below 18750, initially targets 18695 – 18675 zone.
PVA High Edge = 18785 PVA Low Edge = 18713 Prior POC = 18750
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 18848
- BEAR ATR Range Projection >>> 18638
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.”
*****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