Markets
Economic Calendar
S&P 500
Prior Session was Cycle Day 1: Price established a new cycle low at 5515.75 during GBX session and rallied to 5551.75 CD1 range projection during RTH session. For the remainder of the day it was balancing rhythms to close out T+1 End-Of-Quarter for Mutual Funds. Range for ES was 39 handles on 1.164M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Price remains within a multi-day composite consolidation between 5515 – 5555 zone. Final day of trading, we are anticipating “window-dressing” rhythms as those STONKS that have performed well are expected to have a closing bid. Potential also exists for a “walk-away” trade during the late afternoon. Being mindful of either scenario unfolding is potential for final day of the week/month/quarter. 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 5550, initially targets 5580 – 5585 zone.
Bear Scenario: Price sustains an offer below 5550, initially targets 5530 – 5525 zone.
PVA High Edge = 5546 PVA Low Edge = 5532 Prior POC = 5541
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: Dynamic Range Projections (ES) Sept (U) 2024
ES Chart
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Price established a new cycle low at 19874.25 during GBX session and rallied to 20062 CD1 range projection during RTH session. For the remainder of the day it was balancing rhythms to close out T+1 End-Of-Quarter for Mutual Funds. Range for NQ was 242 handles on 579k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Price remains within a multi-day composite consolidation between 19727 – 20116 zone. Final day of trading, we are anticipating “window-dressing” rhythms as those MAG 7 STONKS that have performed well are expected to have a closing bid. Potential also exists for a “walk-away” trade during the late afternoon. Being mindful of either scenario unfolding is potential for final day of the week/month/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 20085, initially targets 20170 – 20255 zone.
Bear Scenario: Price sustains an offer below 20085, initially targets 20003 – 19975 zone.
PVA High Edge = 20083 PVA Low Edge = 20003 Prior POC = 20043
Link to: Dynamic 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