Markets
Economic Calendar
Source: Investing.com
S&P 500
Prior Session was Cycle Day 3: Positive Three-Day Cycle was fulfilled with a 91.11% success-rate covering twelve-plus years of tracking history. Price held bid above our LIS (5625) and fulfilled initial upside target (5640), but failed to expand higher with a sustained bid, although price did notch a marginal new ATH. Hence, it was a slow summer day of consolidating recent gains. Range was 19 handles on 1010M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Today begins a new cycle so we should be anticipating a decline, but price would need to breakdown through 5630 with sustained offer to increase odds of a deeper decline.
Our discipline of maintaining positioning that is aligned with market forces continues to serve us well, so stay the course.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5630, initially targets 5640 – 5645 zone.
Bear Scenario: Price sustains an offer below 5630, initially targets 5615 – 5610 zone.
PVA High Edge = 5639 PVA Low Edge = 5631 Prior POC = 5634
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 91.11% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
Link to: Range Projections (ES) Sept (U) 2024
ES Chart
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Positive Three-Day Cycle was fulfilled with a 91.11% success-rate covering twelve-plus years of tracking history. Price notched a new ATH but failed to sustain an adequate bid on the highs, succumbing to selling pressures, pushing price lower and finding responsive buyers at (20615), Initial Balance Target 2 Level before stabilizing. Range was 156 handles on 564k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Today begins a new cycle so we should be anticipating a decline, but price would need to breakdown through 20615 with sustained offer to increase odds of a deeper decline.
Our discipline of maintaining positioning that is aligned with market forces continues to serve us well, so stay the course.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 20695, initially targets 20725 – 20745 zone.
Bear Scenario: Price sustains an offer below 20695, initially targets 20645 – 20625 zone.
PVA High Edge = 20745 PVA Low Edge = 20670 Prior POC = 20727
Link to: Range Projections (NQ) Sept (U) 2024
NQ Chart
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.
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