S&P 500
Prior Session was Cycle Day 1: Another strong CD1 performance as gap up price held firm during the morning session breaking higher at the 2pm “shake n bake.” Institutional buying continued to drive price higher notching yet another new All-Time High (ATH). Range for this session was 39 handles on 1.043M contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 12.4.24
…Transition from Cycle Day 1 to Cycle Day 2
Transition into Cycle Day 2: Price fulfilled key 3 Day Cycle target zone between 6100 – 6102 as highlighted in the Trading Room RECAP (above).
Having closed slightly off the ATH and given today is Cycle Day 2 (CD2), normal expectation would be for MATD balancing/consolidation rhythms.
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 6100, initially targets 6112 – 6118 zone.
Bear Scenario: Price sustains an offer below 6100, initially targets 6087 – 6080 zone.
PVA High Edge = 6091 PVA Low Edge = 6071 Prior POC = 6067
ES (Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: NAZ extended its rally into CD1 fulfilling 21460.50 objective, (screenshot) as tech lead the way higher for this session. Range for this session was 242 handles on 454k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
Transition into Cycle Day 2: Price fulfilled key 3 Day Cycle target 21460.50 as highlighted in the Trading Room RECAP (above).
Having closed slightly off the ATH (21548.50) and given today is Cycle Day 2 (CD2), normal expectation would be for MATD balancing/consolidation rhythms.
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 21500, initially targets 21550– 21592 zone.
Bear Scenario: Price sustains an offer below 21500, initially targets 21460 – 21450 zone.
PVA High Edge = 21290 PVA Low Edge = 21393 Prior POC = 21483
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