Markets
Source: Seeking Alpha
Economic Calendar
S&P 500
Prior Session was Cycle Day 3: Price continued higher until it “skimmed” our 5340 target (GBX HOD 5339), as buyers during RTH could not hold bid above 5330. Once the LIS broke (5325), it was curtains for the trapped longs as price pushed lower exceeding our lower 5305 target. Late afternoon bounce contained any real damage. Range was 42 handles on 1.253M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Normal for Cycle Day 1 would be for a primary decline measuring 5304.25 which has been satisfied during prior session. Potential remains for a retest of this low and if fails, secondary decline targets 5284 handle. 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 5330, initially targets 5345 – 5350 zone.
Bear Scenario: Price sustains an offer below 5315, initially targets 5290 – 5285 zone.
PVA High Edge = 5330 PVA Low Edge = 5316 Prior POC = 5324
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 >>> 5366
- BEAR ATR Range Projection >>> 5278
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Lower opening gap tested 3 Day Central Pivot Zone before bouncing back, but failed to reclaim 18950 (LIS). Subsequent sell-down to the CD3 Violation Zone where again buyers responded, reversing price back to close near highs of session. Range was 161 handles on 562k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Normal for Cycle Day 1 would be for a primary decline measuring 18863 which has been satisfied during prior session. Potential remains for a retest of this low. As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.
Bull Scenario: Price sustains a bid above 18935, initially targets 19000 – 19025 zone.
Bear Scenario: Price sustains an offer below 18875, initially targets 18840 – 18800 zone.
PVA High Edge = 18934 PVA Low Edge = 18879 Prior POC = 18917
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 19152
- BEAR ATR Range Projection >>> 18734
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.” –BR
*****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.
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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