Markets
Source: Seeking Alpha
Economic Calendar
S&P 500
Prior Session was Cycle Day 3: Following the FED Day “range-runner” volatility session, this session retested the Cycle Day 1 Low (5051) securely and rallied, fulfilling cycle objectives.. Range was 76 handles on 1.507M 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 5052. Price closed in upper quartile of the day’s range, so closing bullish momentum may push price higher before the next decline begins. Non-Farms Payrolls is today BIG Event and potentially a market-mover.
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 5090, initially targets 5115 – 5125 zone.
Bear Scenario: Price sustains an offer below 5090, initially targets 5075 – 5060 zone.
PVA High Edge = 5086 PVA Low Edge = 5055 Prior POC = 5060
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 >>> 5181
- BEAR ATR Range Projection >>> 5040
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Following the FED Day “range-runner” volatility session, this session retested the Cycle Day 1 Low (17473) securely and rallied, fulfilling cycle objectives.. Range was 369 handles on 627k 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 17446. Price closed in upper quartile of the day’s range, so closing bullish momentum may push price higher before the next decline begins. Non-Farms Payrolls is today BIG Event and potentially a market-mover.
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 17690, initially targets 17797 – 18018 zone.
Bear Scenario: Price sustains an offer below 17690, initially targets 17585 – 17535 zone.
PVA High Edge = 17620 PVA Low Edge = 17482 Prior POC = 17537
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 18088
- BEAR ATR Range Projection >>> 17442
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