Markets
Source: Seeking Alpha
Economic Calendar
S&P 500
Prior Session was Cycle Day 3: Rally extended up to bull target zone (5125 – 5130) as buyers ran into substantial resistance, then once the Open Range broke, the decline accelerated down to bear target zone (5085 – 5080) as outlined in DTS 04.24.24 Briefing. Just a beautiful Level-2-Level session. Range was 56 handles on 1.454 contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Average Decline for CD1 measures 5070 – 5065 zone. Price closed low in its range as $META Q1 2024 Earnings apprehension weighed on price after hours. More tech earnings are on deck today with Mr. Softie, Google and Intel are top billing. As of this writing CD1 average decline has been fulfilled, so we’ll use this level as today’s Line-in-the Sand.
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 5070, initially targets 5090 – 5095 zone.
Bear Scenario: Price sustains an offer below 5070, initially targets 5055 – 5050 zone.
PVA High Edge = 5117 PVA Low Edge = 5093 Prior POC = 5114
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 >>> 5147
- BEAR ATR Range Projection >>> 5000
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Rally extended up to bull target zone (17745 – 17775) as buyers ran into substantial resistance, then once the Open Range broke, the decline accelerated down to bear target zone (17530 – 17490) as outlined in DTS 04.24.24 Briefing. Just a beautiful Level-2-Level session. Range was 379 handles on 592k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Average Decline for CD1 measures 17503 – 17498 zone. Price closed low in its range as $META Q1 2024 Earnings disappointment weighed on price after hours. More tech earnings are on deck today with Mr. Softie, Google and Intel are top billing. As of this writing CD1 average decline has been fulfilled, so we’ll use this level as today’s Line-in-the Sand.
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 17500, initially targets 17565 – 17595 zone.
Bear Scenario: Price sustains an offer below 17500, initially targets 17445 – 17425 zone.
PVA High Edge = 17733 PVA Low Edge = 17608 Prior POC = 17668
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 17795
- BEAR ATR Range Projection >>> 17130
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