Markets
All eyes are on Wednesday’s scheduled U.S. retail sales and consumer price index (CPI) reports. Both readings have the potential to move the needle significantly in terms of Federal Reserve interest rate cut expectations, especially after those odds ticked up recently following the central bank’s latest monetary policy decision and favorable labor market data.
Source: Seeking Alpha
Economic Calendar
S&P 500
Prior Session was Cycle Day 3: Positive 3 Day Cycle statistic was fulfilled, but fell short of full cycle targets, with bulls maintaining control for week ending. Range was 31 handles on 1.058M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Normal for Cycle Day 1 would be for a decline measuring 5229 (primary), with a deeper decline measuring 5207 (secondary). Bulls continue to maintain control above 5245 handle. 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 5245, initially targets 5260 – 5265 zone.
Bear Scenario: Price sustains an offer below 5245, initially targets 5225 – 5220 zone.
PVA High Edge = 5250 PVA Low Edge = 5237 Prior POC = 5245
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 >>> 5293
- BEAR ATR Range Projection >>> 5190
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Positive 3 Day Cycle statistic was fulfilled, but fell short of full cycle targets, with bulls maintaining control for week ending. Range was 160 handles on 469k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Normal for Cycle Day 1 would be for a decline measuring 18231 (primary), with a deeper decline measuring 18061 (secondary). Bulls continue to maintain control above 18245 handle. As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.
Bull Scenario: Price sustains a bid above 18245, initially targets 18275 – 18325 zone.
Bear Scenario: Price sustains an offer below 18245, initially targets 18200 – 18185 zone.
PVA High Edge = 18227 PVA Low Edge = 18169 Prior POC = 18200
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 18472
- BEAR ATR Range Projection >>> 18010
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.” –BR
*****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