Markets (Top Stories)
Economic Calendar
Source: Investing.com
S&P 500 (ES)
Prior Session was Cycle Day 1: Textbook CD1 as price declined to satisfy the 5253 – 5250 Average Decline Projected Target Zone, which had an 85% chance of fulfilling, as laid out in subscribers e-book spreadsheet. Range was 55 handles on 1.731M contracts exchanged
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Once the CD1 Low (5246.75) was secure, buyers stepped in aggressively, sparking an afternoon rally which closed price near high of the day. Price has reached its upside CD2 Average Rally between 5295 – 5300 as laid out in subscribers e-book spreadsheet (screenshot below). We will be looking for MATD early rhythms.
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 5295, initially targets 5315 – 5320 zone.
Bear Scenario: Price sustains an offer below 5295, initially targets 5270 – 5265 zone.
PVA High Edge = 5313 PVA Low Edge = 5278 Prior POC = 5308
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Range Projections (ES) June 2024 (M)
- BULL ATR Range Projection >>> 5351
- BEAR ATR Range Projection >>> 5247
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Textbook CD1 as price established a cycle low at 18435.75 which had a 85% chance of declining in excess of 260 handles. Range was 319 handles on 660k contracts exchanged
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Price has satisfied the CD2 projected average rally target zone between (18628 – 18669) as laid out in subscribers e-book spreadsheet (screenshot below). We will be looking for MATD early rhythms.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 18650, initially targets 18725 – 18750 zone.
Bear Scenario: Price sustains an offer below 18650, initially targets 18540 – 18520 zone.
PVA High Edge = 18693 PVA Low Edge = 18545 Prior POC = 18575
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 18903
- BEAR ATR Range Projection >>> 18417
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.
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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