S&P 500
Prior Session was Cycle Day 3: This trading session unfolded within the prior DTS’ range outline between 6040 – 6070. Balancing/Consolidation was this session’s theme with “acceptance” at the all-time high zone. Range for this session was 23 handles on 920k contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 12.3.24
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Price closed near the high of the day as momentum may push price higher before the next decline unfolds. Average Decline measures 6034 which is marked as key pivot support.
Until there is structural shift in the dominant bull-bias, we see no reason to be considering short-trades. We’ll continue to be vigilant for “cracks in the bullish theme”, but until then, “steady as she goes!”
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 6065, initially targets 6075 – 6085 zone.
Bear Scenario: Price sustains an offer below 6065, initially targets 6050 – 6045 zone.
PVA High Edge = 6065 PVA Low Edge = 6055 Prior POC = 6064
ES (Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: NAZ extended its cycle rally fulfilling 21313 objective, as tech lead the way higher for this session. Range for this session was 194 handles on 439k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Price closed near the high of the day as momentum may push price higher before the next decline unfolds. Average Decline measures 21205 which is marked as key Point of Control (POC).
Until there is structural shift in the dominant bull-bias, we see no reason to be considering short-trades. We’ll continue to be vigilant for “cracks in the bullish theme”, but until then, “steady as she goes!”
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 21285, initially targets 21325– 21385 zone.
Bear Scenario: Price sustains an offer below 21285, initially targets 21250 – 21230 zone.
PVA High Edge = 21243 PVA Low Edge = 21180 Prior POC = 21215
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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