U.S. stock index futures are ahead by 0.7%, erasing an earlier loss
Source: Seeking Alpha https://seekingalpha.com/
S&P 500 (ES)
Prior Session was Cycle Day 1 (CD1): Secure Low (3008) was established early during GLOBEX Session, then price proceeded to rally throughout the day, closing in the upper quartile of range.
…Transition from Cycle Day 1 to Cycle Day 2
Bull Scenario: IF Bulls hold bid above 3059, THEN initial upside estimate targets 3069 – 3074 zone
Bear Scenario: IF Bears hold offer below 3059, THEN initial downside estimate targets 3053 – 3047 zone.
P -VA High = 3058 P – VA Low = 3040 P – POC = 3053
Range Projections and Key Levels (ES) June 2020 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price has continued this cycle’s rally fulfilling 9631.50 CD2 Upper Penetration Level. Initial back test support is located at prior high (9605.75)
P – VA High = 9594 P – VA Low = 9531 P – POC = 9561
Bull Scenario: IF Bulls hold bid above 9606, THEN initial upside estimate targets 9632 – 9660 zone.
Bear Scenario: IF Bears hold offer below 9606, THEN initial downside estimate targets 9575 – 9540 zone.
Range Projections and Key Levels (NQ) June 2020 (M) Contract
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!
“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
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