Markets (Top Stories)

Source: investing.com

Economic Calendar

S&P 500

Prior Session was Cycle Day 2: Morning market activity was subdued as MATD rhythms dominated with relatively light volumes and range, as traders awaited the FED Presser. In typical fashion, JPOW leaned to the “dovish” side but overall non-committal.

Market reaction was positive as price rallied to 3 Day Cycle Target 5126 handle, at which time price reversed direction and when all was said and done, price was back at the day’s starting point. We classify this day type as a “Range-Runner.” Range was 89 handles on 1.899M contracts exchanged.

***NOTE: IF you want to learn more about how the 3-day cycle levels are derived, THEN check out the FREE TRIAL offer below. Cycle Analysis is an integral part of the PTG Methodology.

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3: Cycle Target (5126) has been fulfilled, so we’ll mark today as a “wild-card” as the battle for control appears to be stalemated. Core range (100 handles) is outlined between 5050 – 5150. We’ll continue to defer to Mr. Market to guide us to VOLATUNITY.

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 5065, initially targets 5085 – 5095 zone. 

Bear Scenario: Price sustains an offer below 5040, initially targets 5025 – 5020 zone.

PVA High Edge = 5074       PVA Low Edge = 5042         Prior POC = 5050

 

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 >>> 5131
• BEAR ATR Range Projection >>>4988

Nasdaq 100 (NQ)

Prior Session was Cycle Day 2: Morning market activity was subdued as MATD rhythms dominated with relatively light volumes and range, as traders awaited the FED Presser. In typical fashion, JPOW leaned to the “dovish” side.

Market reaction was positive as price rallied to 3 Day Cycle Target 17752, at which time price reversed direction and when all was said and done, price was back at the day’s starting point. We classify this day type as a “Range-Runner.” Range was 394 handles on 780k contracts exchanged.

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3: Cycle Target (17752) has been fulfilled, so we’ll mark today as a “wild-card” as the battle for control appears to be stalemated. Core range (400 handles) is outlined between 17950 – 17550. We’ll continue to defer to Mr. Market to guide us to VOLATUNITY.

Bull Scenario: Price sustains a bid above 17525, initially targets 17575 – 17665 zone. 

Bear Scenario: Price sustains an offer below 17415, initially targets 17345 – 17315 zone.

PVA High Edge = 17525       PVA Low Edge = 17415         Prior POC = 17488

Range Projections (NQ) June 2024 (M)

• BULL ATR Range Projection >>> 17841
• BEAR ATR Range Projection >>> 17172

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