S&P 500 (ES)
Prior Session was Cycle Day 3: Three-Day Cycle Statistic (92.77%) was fulfilled as price rallied above the CD1 Low (6055.50) securing the cycle. Price remains in a “consolidation-phase” with the range defined between 6100 – 6175 on the daily time frames as dip buyers remain active. Range for this session was 41 handles on 1.5M (split volume) contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 12.16.24
***NOTE: Contract Rollover to March (H) 2025 from December (Z) 2024 Spread = 70.25 points
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Today begins a new cycle with expectation of late day selling spilling over into todays session. Average Decline measures between 6131 – 6127 zone.
Odds of Decline > 10 = 79%…> 20 = 56% Average Range CD1 = 36.61
Key for this week’s trading will be the slew of economic reports: Retail Sales; FOMC; Initial Jobless Claims; GDP; PCE in addition to Rollover and OPEX to name a few.
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 6145, initially targets 6160 – 6165 zone.
Bear Scenario: Price sustains an offer below 6145, initially targets 6135 – 6130 zone.
PVA High Edge = 6156 PVA Low Edge = 6142 Prior POC = 6154
ES (Profile)
Nasdaq (NQ)
Prior Session was Cycle Day 3: Positive 3-Day Cycle as well as notching a new All-Time High…Tech Sector remains atop of the leader-board as the end-of-the-year “mark-up” phase is underway. Range for this session was 399 handles on 259k (split volume) contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Today begins a new cycle with expectation of late day selling spilling over into todays session. Average Decline measures between 22338 – 22326 zone.
Odds of Decline > 10 = 82%…> 20 = 76% Average Range CD1 = 125.50
Key for this week’s trading will be the slew of economic reports: Retail Sales; FOMC; Initial Jobless Claims; GDP; PCE in addition to Rollover and OPEX to name a few.
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 22395, initially targets 22415 – 22435 zone.
Bear Scenario: Price sustains an offer below 22395, initially targets 22359 – 22330 zone.
PVA High Edge = 22448 PVA Low Edge = 22253 Prior POC = 22403
NQ (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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