Markets (Top Stories)
Source: investing.com
Economic Calendar
S&P 500
Prior Session was Cycle Day 2: Opening strength pushed price to our stated target zone between 5203 – 5209 as outlined in prior DTS Briefing 4.15.24. Buyers could not sustain the bid and as such reversal back down through open-range triggered the session selling, which persisted throughout the day, closing near lows of the day. Range was 119 handles on 2.154M contracts exchanged.
***NOTE: IF you want to learn more about how the 3-day cycle levels are derived, THEN check out the FREE TRIAL offer below. Cycle Analysis is an integral part of the PTG Methodology.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Price closed below CD1 Low (5150). The primary goal for cycle bulls is for price to trade above this level during RTH, which would satisfy the 3 Day Cycle Statistic. Given the weakness of the prior session, this may be tough to reclaim. Initial resistance zone is marked between 5125 – 5130. At minimum, bulls need to C&C this zone.
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 5100, initially targets 5125 – 5130 zone.
Bear Scenario: Price sustains an offer below 5100, initially targets 5075 – 5070 zone.
PVA High Edge = 5127 PVA Low Edge = 5094 Prior POC = 5108
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 >>> 5181
- BEAR ATR Range Projection >>> 5025
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2: Opening strength pushed price to our stated target zone between 18295 – 18315 as outlined in prior DTS Briefing 4.15.24. Buyers could not sustain the bid and as such reversal back down through open-range triggered the session selling, which persisted throughout the day, closing near lows of the day. Range was 509 handles on 788k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Price closed below CD1 Low (18120). The primary goal for cycle bulls is for price to trade above this level during RTH, which would satisfy the 3 Day Cycle Statistic. Given the weakness of the prior session, this may be tough to reclaim. Initial resistance zone is marked between 17925 – 17940. At minimum, bulls need to C&C this zone.
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 17885, initially targets 17925 – 17940 zone.
Bear Scenario: Price sustains an offer below 17885, initially targets 17785 – 17740 zone.
PVA High Edge = 18226 PVA Low Edge = 17841 Prior POC = 17884
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 18215
- BEAR ATR Range Projection >>> 17538
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.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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