Markets (Top Stories)
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3: Market did produce a Positive 3-Day Rally for the 24-hour session, however failed for the RTH session. Price would need to recover the 5218 level to negate the day session failure. This session was dominated by Triple-Witch OPEX with over $2.7T options expired. Range was 63 handles on 1.749M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Average Decline for CD1 measures 5179 and is already in-place from prior session selling. This week’s Main Event is the FOMC on Wednesday, so expectation for relative benign trading in-advance of the meeting and presser. We’ll mark 5190/ 5175 as today’s Line in the Sand (LIS)
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.
Scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5190, initially targets 5205 – 5210 zone.
Bear Scenario: Price sustains an offer below 5175, initially targets 5160 – 5155 zone.
PVA High Edge = 5188 PVA Low Edge = 5176 Prior POC = 5183
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 90% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
Range Projections (ES) June 2024 (M)
- BULL ATR Range Projection >>> 5238
- BEAR ATR Range Projection >>> 5134
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Market did produce a Positive 3-Day Rally for the 24-hour session, however failed for the RTH session. Price would need to recover the 18281 level to negate the day session failure. This session was dominated by Triple-Witch OPEX with over $2.7T options expired. Range was 316 handles on 672k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Average Decline for CD1 measures 18049 and is already in-place from prior session selling. This week’s Main Event is the FOMC on Wednesday, so expectation for relative benign trading in-advance of the meeting and presser. We’ll mark 18110/18040 as today’s Line in the Sand (LIS)
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.
Scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 18110, initially targets 18175 – 18205 zone.
Bear Scenario: Price sustains an offer below 18040, initially targets 17955 – 17940 zone.
PVA High Edge = 18135 PVA Low Edge = 18035 Prior POC = 18070
Range Projections (NQ) June 2024 (m)
- BULL ATR Range Projection >>> 18352
- BEAR ATR Range Projection >>> 18813
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.” –Bruce Lee
*****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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
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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