Markets (Top Stories)

Economic Calendar

Source: Investing.com

S&P 500 (ES)

Prior Session was Cycle Day 1: Textbook CD1 as price declined to satisfy 5272.50 Average Decline Projected Target which had an 85% chance of fulfilling as laid out in subscribers e-book Spreadsheet. (screenshot) Range was 55 handles on 1.374M contracts exchanged

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2: Price closed near the low of the day, as selling momentum may spill-over into CD2 before finding a secure cycle low from which to establish positioning for the next rally. 

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 5270, initially targets 5285 – 5290 zone. 

Bear Scenario: Price sustains an offer below 5270, initially targets 5250 – 5245 zone.

PVA High Edge = 5296       PVA Low Edge = 5285         Prior POC = 5288

***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.

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*****The 3 Day Cycle has a 91.43% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.  

    Range Projections (ES) June 2024 (M)

• BULL ATR Range Projection >>> 5308
• BEAR ATR Range Projection >>> 5228
  

  

Nasdaq 100 (NQ)

Prior Session was Cycle Day 1: Textbook CD1 as price established a cycle low at 18740 which had a 92% chance of declining in excess of 117 handles. Range was 209 handles on 566k contracts exchanged

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2: Price closed near the low of the day, as selling momentum may spill-over into CD2 before finding a secure cycle low from which to establish positioning for the next rally. 

As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 18740, initially targets 18795 – 18825 zone. 

Bear Scenario: Price sustains an offer below 18740, initially targets 18695 – 18680 zone.

PVA High Edge = 18870       PVA Low Edge = 18810     Prior POC = 18827

Range Projections (NQ) June 2024 (M)

• BULL ATR Range Projection >>> 18915
• BEAR ATR Range Projection >>> 18554

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