Markets (Top Stories)
Economic Calendar
S&P 500
Prior Session was Cycle Day 1: Price rallied first to negate yesterday’s failed 3-day rally (RTH Session) and as expected declined to the projected CD1 Average Decline Zone as outlined in prior DTS Briefing 3.26.24. Range was 37 handles on 1.015M contracts exchanged.
NOTE: Primary Objective for Cycle Day 1 is to establish a LOW from which to stage the next rally. This session was a “textbook” Cycle Day 1
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Price established a new cycle low at 5263. Next objective is for the price to rally, so we will be looking for strength above 5275. Clearing and converting this level potentially returns price back to the upper balance between 5290 – 5300.
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5275, initially targets 5290 – 5300 zone.
Bear Scenario: Price sustains an offer below 5275, initially targets 5265 – 5260 zone.
PVA High Edge = 5298 PVA Low Edge = 5281 Prior POC = 5290
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. CLICK ON IMAGE TO EXPAND FULL CYCLE DAY 2 SPREADSHEET
Range Projections (ES) June 2024 (M)
- BULL ATR Range Projection >>> 5317
- BEAR ATR Range Projection >>> 5229
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Reclaim attempt of 18600 was unsuccessful as buyers were not able to sustain ample bid, as price “drifted” lower throughout the day, with a final sell program that nailed PTG’s lower Price Target (18440)…Low of Day marked 18439.50. Range was 179 handles on 511k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Price established a new cycle low at 18439.50. Next objective is for the price to rally, so we will be looking for strength above 18500. Clearing and converting this level potentially returns price back to the upper balance between 18540 – 18580.
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 18500, initially targets 18540 – 18580 zone.
Bear Scenario: Price sustains an offer below 18500, initially targets 18460 – 18440 zone.
PVA High Edge = 18594 PVA Low Edge = 18534 Prior POC = 18546
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 18709
- BEAR ATR Range Projection >>> 18251
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.
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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