S&P 500
Prior Session was Cycle Day 3: ES closed out a bullish week shifting value area VPOC higher to 6098 from 6062 and notching new all-time high. Price has yet to establish excess, so as such dip buyers remain active. Positive 3-Day Cycle is maintaining a 92.50% accuracy. Range for this session was 35 handles on 1.069M contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 12.6.24
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: This session begins a new cycle with the average decline measuring 6075.25. With the current strong trend structure in-place, any pullback offers opportunity for the BTFD crowd to reestablish or add to current positions.
This week is the final CPI reading for the year as traders are discounting 85% chance of a 25 bps rate cut for the December.18th FED Meeting. Current target rate is 4.50 % – 4.75%
No change in the current game plan…
PTG’s Primary Directive (PD) is to ALWAYS STAY IN ALIGNMENT with the DOMINANT FORCE.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 6095, initially targets 6110 – 6115 zone.
Bear Scenario: Price sustains an offer below 6095, initially targets 6085 – 6080 zone.
PVA High Edge = 6102 PVA Low Edge = 6091 Prior POC = 6098
ES (Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: NQ closed out a bullish week shifting value area VPOC higher to 21625 and notching new all-time high. Price has yet to establish excess, so as such dip buyers remain active. Range for this session was 244 handles on 448k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: This session begins a new cycle with the average decline measuring 21545.50. With the current strong trend structure in-place, any pullback offers opportunity for the BTFD crowd to reestablish or add to current positions.
This week is the final CPI reading for the year as traders are discounting 85% chance of a 25 bps rate cut for the December.18th FED Meeting. Current target rate is 4.50 % – 4.75%
No change in the current game plan…
PTG’s Primary Directive (PD) is to ALWAYS STAY IN ALIGNMENT with the DOMINANT FORCE.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 21625, initially targets 21693– 21718 zone.
Bear Scenario: Price sustains an offer below 21625, initially targets 21540 – 21520 zone.
PVA High Edge = 21534 PVA Low Edge = 21488 Prior POC = 21526
NQ Chart (Profile)
Economic Calendar
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