Markets (Top Stories)
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3: Price tested lower end of our stated range edge (5250) finding ample responsive, followed by initiative buyers to rally just shy of CD1 Low (5282), which technically is categorized as a “failed” cycle. We give the cycle a “flex-day” having come so close to the full recovery, that a second attempt in today’s session may be enough to negate yesterday’s failed attempt. Range was 36 handles on 1.321M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Cycle Day 1 Average Decline measures 5235. Market appears to be entering into a “range-bound” zone between 5250 – 5280, with midpoint marked at 5262, which was prior session Line in the Sand (LIS). We will again reference 5262 as today’s LIS and keep the same upside and downside target parameters intact.
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 5262, initially targets 5275 – 5280 zone.
Bear Scenario: Price sustains an offer below 5262, initially targets 5250 – 5245 zone.
PVA High Edge = 5280 PVA Low Edge = 5260 Prior POC = 5270
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 >>> 5307
- BEAR ATR Range Projection >>> 5230
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: NAZ (NQ) did recover the CD1 Low (18414) to satisfy the 3 Day Cycle Statistic. Range was 219 handles on 587k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Cycle Day 1 Average Decline measures 18205. We’ll defer to similar parameters as prior session, with more range-bound tendencies between 18240 – 18440 edges. We’ll mark 18370 as 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 18370, initially targets 18425 – 18450 zone.
Bear Scenario: Price sustains an offer below 18370, initially targets 18330 – 18320 zone.
PVA High Edge = 18446 PVA Low Edge = 18331 Prior POC = 18416
Range Projections (NQ) June 2024 (m)
- BULL ATR Range Projection >>> 18583
- BEAR ATR Range Projection >>> 18186
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