Markets (Top Stories)
Source: investing.com
Economic Calendar
S&P 500
Prior Session was Cycle Day 2: Price vaulted higher to fresh all-time highs on CPI beat, as well as holding bid during the FOMC Presser. Price has now increased +2.25% from the Cycle Day 1 Low (5334.50) to current high (5454.50). +120 handles! Another “3-Day Super Cycle!” Range was 74 handles on 1.713M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Cycle objectives have been exceeded during prior session, so we will mark today as a “Wild-Card.” Bulls have firm control, so it is theirs to relinquish. We’ll mark 5420 as key “Line in the Sand” Typically we’d be anticipating MATD rhythms following large range move, though final highs may not yet be in-place. As always, you know the plan…Stay aligned with dominant intra-day forces.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5420, initially targets 5450 – 5455 zone.
Bear Scenario: Price sustains an offer below 5420, initially targets 5400 – 5395 zone.
PVA High Edge = 5447 PVA Low Edge = 5428 Prior POC = 5441
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 92.11% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
Range Projections (ES) June 2024 (M)
- BULL ATR Range Projection >>> 5491
- BEAR ATR Range Projection >>> 5380
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2: Price vaulted higher to fresh all-time highs on CPI beat, as well as holding bid during the FOMC Presser. Price has now increased +3.22%% from the Cycle Day 1 Low (18994.50) to current high (19602.75). +608 handles! Another “3-Day Super Cycle!” Range was 378 handles on 673k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Cycle objectives have been exceeded during prior session, so we will mark today as a “Wild-Card.” Bulls have firm control, so it is theirs to relinquish. We’ll mark 19510 as key “Line in the Sand” Typically we’d be anticipating MATD rhythms following large range move, though final highs may not yet be in-place. As always, you know the plan…Stay aligned with dominant intra-day forces.
As such, scenarios to consider for today’s trading.
.Bull Scenario: Price sustains a bid above 19510, initially targets 19660– 19685 zone.
Bear Scenario: Price sustains an offer below 19510, initially targets 19435 – 19380 zone.
PVA High Edge = 19144 PVA Low Edge = 19030 Prior POC = 19057
Range Projections (NQ) June 2024 (M)
- BULL ATR Range Projection >>> 19861
- BEAR ATR Range Projection >>> 19326
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.” –BR
*****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.
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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