Markets
Source: Yahoo Finance
Economic Calendar
S&P 500
Prior Session was Cycle Day 2: Incredible trend continuation as price fulfilled 3 Day Cycle Target (5630) as well as marking the eighth (8th) consecutive “one time-framing” session. Range was 66 handles on “Thin-to-Win” 1.063M contracts exchanged.
Subscribers to the Three-Day Cycle were well prepared and profited from this day’s continuation trend.
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…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Price has fulfilled 3 Day Cycle Target (5630), so anything further above this level is pure “gravy!” Bullish stampede carry’s on until main structure levels (5565 – 5570) below are violated and converted to resistance. Until then, the core plan is in-effect. So we’ll mark this session as a “wild-card”, as profit taking could unfold quickly, like a thief in the night, so be sure use proper risk management techniques.
You Know The Drill! 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 5620 (VAH), initially targets 5640 – 5645 zone.
Bear Scenario: Price sustains an offer below 5620 (VAH), initially targets 5605 – 5595 zone.
PVA High Edge = 5620 PVA Low Edge = 5583 Prior POC = 5601
ES Chart
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2: Continuation rally vaulted higher, exceeding primary cycle target levels and within reach of the 3 Day Cycle objective (19923).. Range was 346 handles on 424k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Bulls remain dominant and it is not prudent to attempt fate by picking tops. Momentum is firmly entrenched, though the rally is in it’s eighth (8th) consecutive day and is potentially vulnerable to profit-taking. Trailing stop management of longs is the easiest and most effective way to follow the trend to its end. New longs are not warranted until price can establish a new basing/balancing zone. The daily plan is simple but not always easy to follow. Mental discipline is a must.
You Know The Drill! 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 19830, initially targets 19900 – 19923 zone.
Bear Scenario: Price sustains an offer below 19830, initially targets 19770 – 19720 zone.
PVA High Edge = 19692 PVA Low Edge = 19544 Prior POC = 19609
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.”
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