Markets
Economic Calendar
Source: Investing.com
S&P 500
Prior Session was Cycle Day 3: Three-Day Cycle notched a rare (7.5%) “failed” cycle, as price was unable to recover back above CD1 Low (5559.75). We’ll take this in stride given of the past five (5) cycles, three (3) of them were “super-cycles.” Mid-week holiday closure and OPEX were certainly factors influencing the normal cycle rhythms. Range for ES was 26 handles on 1041M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Today begins a new cycle with the average decline measuring between the 5516 (primary) – 5495 (secondary) levels. Bulls continue to be the dominant force, though we would not be surprised this week if prices experienced a deeper pullback. CNBC notes that “The stock market is in its longest stretch (377 days) without a 2.05% sell-off since the financial crisis.” Our discipline of maintaining positioning that is aligned with market forces continues to serve us well, so stay the course.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5525, initially targets 5540 – 5545 zone.
Bear Scenario: Price sustains an offer below 5525, initially targets 5515 – 5505 zone.
PVA High Edge = 5538 PVA Low Edge = 5528 Prior POC = 5534
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 92.50% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
Link to: Range Projections (ES) Sept (U) 2024
ES Chart
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Three-Day Cycle notched a rare (7.5%) “failed” cycle, as price was unable to recover back above CD1 Low (20210.75). We’ll take this in stride given of the past five (5) cycles, three (3) of them were “super-cycles.” Mid-week holiday closure and OPEX were certainly factors influencing the normal cycle rhythms. Range for NQ was 171 handles on 573k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1: Today begins a new cycle with the average decline measuring between the 19969 (primary) – 19851 (secondary) levels. Bulls continue to be the dominant force, though we would not be surprised this week if prices experienced a deeper pullback. Our discipline of maintaining positioning that is aligned with market forces continues to serve us well, so stay the course.
Bull Scenario: Price sustains a bid above 20000, initially targets 20090 – 20130 zone.
Bear Scenario: Price sustains an offer below 20000, initially targets 19960 – 19940 zone.
PVA High Edge = 20019 PVA Low Edge = 19959 Prior POC = 19996
Link to: Range Projections (NQ) Sept (U) 2024
NQ Chart
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