Markets (Top Stories)
The Core PCE price Index is the less volatile measure of the PCE price index which excludes the more volatile and seasonal food and energy prices.
Economic Calendar
Source: Investing.com
S&P 500 (ES)
Prior Session was Cycle Day 1: Normal CD1 as price declined to Violation Levels establishing cycle low at 5022.25. Range was 110 handles on 1.834M 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: Three Day Cycle Rally objective 5098 has been fulfilled with a strong closing rally, driven by tech earnings. Typically for CD2 we would be anticipating MATD rhythms. It’s Friday, so Capital Preservation Day. Be prudent on your trade selection and risk management.
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 5090, initially targets 5120 – 5125 zone.
Bear Scenario: Price sustains an offer below 5090, initially targets 5075 – 5070 zone.
PVA High Edge = 5074 PVA Low Edge = 5023 Prior POC = 5038
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 >>> 5199
- BEAR ATR Range Projection >>> 5054
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Normal CD1 as price declined to Violation Levels establishing cycle low at 17308.25. Range was 519 handles on 808k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Three Day Cycle Rally objective 17653 has been fulfilled with a strong closing rally, driven by tech earnings. Typically for CD2 we would be anticipating MATD rhythms. It’s Friday, so Capital Preservation Day. Be prudent on your trade selection and risk management.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 17600, initially targets 17800 – 17875 zone.
Bear Scenario: Price sustains an offer below 17600, initially targets 17525 – 17475 zone.
PVA High Edge = 17500 PVA Low Edge = 17315 Prior POC = 17378
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 17641
- BEAR ATR Range Projection >>> 17018
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