Markets
Source: cnbc.com
Economic Calendar
S&P 500
Prior Session was Cycle Day 1: Liquidation selling that had begun on Cycle Day 3 continued to spill-over into today’s session, which fulfilled CD1 Violation Level and established a new Cycle Low at 5570.25. Range was 93 handles on 2.433M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Normal for CD2 is to establish some balance and consolidation following prior session’s steep decline. Range has expanded with increase in volatility so stay vigilant and disciplined with your trade management. Today is also OPEX, which is a potential driver of trade activity.
You Know The Plan! 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 5615 (KEY PIVOT), initially targets 5625 – 5630 zone.
Bear Scenario: Price sustains an offer below 5615 (KEY PIVOT), initially targets 5595 – 5590 zone.
PVA High Edge = 5630 PVA Low Edge = 5570 Prior POC = 5594
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 91.49% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
Link to: Dynamic Range Projections (ES) Sept (U) 2024
ES Chart
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Liquidation selling that had begun on Cycle Day 3 continued to spill-over into today’s session, which fulfilled D-Level Money Box Target Zone and established a new Cycle Low at 19758.75. Range was 403 handles on 951k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Normal for CD2 is to establish some balance and consolidation following prior session’s steep decline. Range has expanded with increase in volatility so stay vigilant and disciplined with your trade management. Today is also OPEX, which is a potential driver of trade activity.
You Know The Plan! 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 19965, initially targets 20045 – 20095 zone.
Bear Scenario: Price sustains an offer below 19965, initially targets 19870 – 19830 zone.
PVA High Edge = 20031 PVA Low Edge = 19771 Prior POC = 19831
Link to: Dynamic 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