Markets
Economic Calendar
Source: Investing.com
S&P 500
Prior Session was Cycle Day 3: Positive Three-Day Cycle was fulfilled with a 92.48% success-rate covering twelve-plus years of tracking history. This session was effectively a balancing day as price held critical support between (5515 – 5520) and capped the upside between (5540 – 5550) as outlined in prior DTS Briefing 6/26/24. Range for ES was 35 handles on 1.124M 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 5517 (primary) – 5496 (secondary) levels. End-of-Quarter (EOQ) is upon the market as today’s trade is T+1, meaning Trade-Date Plus 1-Day Settlement. So we would be anticipating overall the market to sustain a firm bid, especially for those STONKS that have performed well this quarter. 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 5530, initially targets 5545 – 5550 zone.
Bear Scenario: Price sustains an offer below 5530, initially targets 5515 – 5510 zone.
PVA High Edge = 5540 PVA Low Edge = 5525 Prior POC = 5531
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 92.48% 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: Positive Three-Day Cycle was fulfilled with a 92.48% success-rate covering twelve-plus years of tracking history. This session was effectively a balancing day as price held within 5-day value zone (19865 – 20025). Range for NQ was 169 handles on 584k 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 19953 (primary) – 19824 (secondary) levels. End-of-Quarter (EOQ) is upon the market as today’s trade is T+1, meaning Trade-Date Plus 1-Day Settlement. So we would be anticipating overall the market to sustain a firm bid, especially for those MAG 7 STONKS that have performed well this quarter. 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 19900, initially targets 19990 – 20009 zone.
Bear Scenario: Price sustains an offer below 19900, initially targets 19850 – 19825 zone.
PVA High Edge = 20006 PVA Low Edge = 19946 Prior POC = 19971
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.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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