Markets (Top Stories)
Economic Calendar
Source: Investing.com
S&P 500 (ES)
Prior Session was Cycle Day 1: Pre-RTH rally stalled within the projected initial target zone (5260 – 5265) as outlined in prior DTS Briefing 5.13.24. RTH rejected the early bid as price sold down and consolidated throughout the session with narrowing range and sub-par volumes. Markets are in a “holding-pattern” as traders await Wednesday’s CPI Report. Range was 30 handles on 890k contracts exchanged
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Cycle Low was established at 5233.25 with price bouncing back to 5245, prior Line in the Sand. We will continue to reference this level for bull/bear rhythms. Volatility, or should I say “lack-of” volatility with sub-par volumes supports the consolidation theme.
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 5230 – 5225 zone.
PVA High Edge = 5251 PVA Low Edge = 5242 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 >>> 5297
- BEAR ATR Range Projection >>> 5188
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Pre-RTH rally stalled within the projected initial target zone (18275 – 18325) as outlined in prior DTS Briefing 5.13.24. RTH rejected the early bid as price sold down and consolidated throughout the session with narrowing range and sub-par volumes. Markets are in a “holding-pattern” as traders await Wednesday’s CPI Report. Range was 107 handles on 405k contracts exchanged
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Cycle Low was established at 18228.75 with price bouncing back to Mid-VWAP for the day. Volatility, or should I say “lack-of” volatility with sub-par volumes supports the consolidation theme for this cycle day.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 18290, initially targets 18350 – 18385 zone.
Bear Scenario: Price sustains an offer below 18290, initially targets 18240 – 18225 zone.
PVA High Edge = 18302 PVA Low Edge = 18272 Prior POC = 18292
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 18525
- BEAR ATR Range Projection >>> 18038
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.”
*****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