Markets (Top Stories)
Economic Calendar
Source: Investing.com
S&P 500 (ES)
Prior Session was Cycle Day 1: Textbook CD1 as price declined to the projected average decline (5192) as outlined in the DTS Briefing 5.8.24. Solid buy response developed reversing and rallying back to previous close to fill the open gap. Consolidation was the rhythm for the balance of the session. Range was 29 handles on 972k contracts exchanged
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Approximately two-thirds of the CD2 average rally (36 pts) is in-place; So we will be anticipating continued consolidation rhythms within the context of a 5200 – 5225 range. 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 5210, initially targets 5220 – 5225 zone.
Bear Scenario: Price sustains an offer below 5210, initially targets 5200 – 5195 zone.
PVA High Edge = 5216 PVA Low Edge = 5205 Prior POC = 5208
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 >>> 5273
- BEAR ATR Range Projection >>> 5147
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Textbook CD1 as price declined to establish a new cycle low at 18072.50. Solid buy response developed securing this low and rallying back to previous close to fill the open gap. Consolidation was the rhythm for the balance of the session. Range was 169 handles on 450k contracts exchanged
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: The initial average rally for CD2 (122 pts) is in-place at 18194. So we will be anticipating continued consolidation rhythms within the context of a 18075 – 18245 range. Volatility, or should I say “lack-of” volatility with sub-par volumes supports the consolidation theme.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 18160, initially targets 18245 – 18265 zone.
Bear Scenario: Price sustains an offer below 18160, initially targets 18085 – 18075 zone.
PVA High Edge = 18204 PVA Low Edge = 18154 Prior POC = 18181
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 18465
- BEAR ATR Range Projection >>> 17863
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