Markets (Top Stories)
Economic Calendar
S&P 500
Prior Session was Cycle Day 1: Price rallied to negate the previous CD3 ‘failed cycle’ as well as fulfilling dynamically adjusted target zone (5300 – 5305).
Posted in Live Trading Room: Trading Room 4/4/24
PTGDavid : (8:40:03 AM) : 3 Day Recovery fulfilled
PTGDavid : (8:39:36 AM) : Further upside target 5300 -5305 zone
Uneventful morning session consolidation lead to a monster liquidation sell-off, courtesy of FED SPEAK hump Kashkari raising the possibility of No Rate Cuts This Year! Add in geopolitical tensions, spiking crude oil, it was simply too much for the market to handle, dropping in excess of 1.22%, wiping out two-weeks of optimistic rate cut gains. Range was 116 handles on 1.834M 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 5192. Today’s catalyst is the all-important Non-Farm Payrolls (Jos Report). Market reaction is certainly a “wild-card” and is anyone’s guess. We’ll defer to greater market forces to determine where they should be headed.
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 5200, initially targets 5215 – 5220 zone.
Bear Scenario: Price sustains an offer below 5200, initially targets 5175 – 5170 zone.
PVA High Edge = 5308 PVA Low Edge = 5224 Prior POC = 5244
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 >>> 5243
- BEAR ATR Range Projection >>> 5162
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: As with all the items mentioned above in the ES section, the same affected the Tech Arena, as there was nowhere to hide for the bulls, with FED SPEAK induced long liquidation selloff in excess of 1.5%. Range was 512 handles on 761k 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 18055 which matches the March 19th low. Today’s catalyst is the all-important Non-Farm Payrolls (Jos Report). Market reaction is certainly a “wild-card” and is anyone’s guess. We’ll defer to greater market forces to determine where they should be headed.
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 18075, initially targets 18175 – 18200 zone.
Bear Scenario: Price sustains an offer below 18075, initially targets 17995 – 17980 zone.
PVA High Edge = 18567 PVA Low Edge = 18255 Prior POC = 18361
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 18300
- BEAR ATR Range Projection >>> 18893
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