Markets (Top Stories)

Investors will be looking to May’s nonfarm payrolls report for more clarity on whether the Federal Reserve can ease up in its battle against inflation.

Economists surveyed by Dow Jones expect the Bureau of Labor Statistics to report that the U.S. economy added 190,000 more jobs on the month, which would be a slight step up from the 175,000 gain in April.

Moreover, markets will be taking a close look at wage numbers, as average hourly earnings are expected to show a 0.3% increase, slightly higher on the month, putting the 12-month increase at 3.9%, or the same pace as the previous month, and an indication that the central bank still has more work to do.

Source: CNBC.com

Economic Calendar

Source: Investing.com

S&P 500 (ES)

Prior Session was Cycle Day 1: Normal CD1 as price declined to produce a new cycle low at 5345.25, which was within our anticipated lower target zone (5350 – 5345) as outlined in prior DTS Briefing 6.6.24. Traders took a well deserved break yesterday following the 3 Day Super Cycle Rally to all-time highs, ahead of today’s Non-Farm Payrolls (i.e. Jobs Report). Range was 28 handles on 1.177M contracts exchanged

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2: Potentially market-moving event is the NFP Report with an expected 190K addition. Regardless of the actual number, we will remain true to our discipline of aligning with the dominant forces of the day and seek out our A-Plus+ trade opportunities. 

As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.

As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 5365, initially targets 5380 – 5385 zone. 

Bear Scenario: Price sustains an offer below 5365, initially targets 5345 – 5340 zone.

PVA High Edge = 5369       PVA Low Edge = 5360         Prior POC = 5365

***NOTE: IF you want to learn more about how the 3-day cycle levels are derived, THEN check out the FREE TRIAL offer below. Cycle Analysis is an integral part of the PTG Methodology.

PTG 3 Day Cycle

EXCLUSIVE OFFER

*****The 3 Day Cycle has a 91.89% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.  

    Range Projections (ES) June 2024 (M)

• BULL ATR Range Projection >>> 5420
• BEAR ATR Range Projection >>> 5305
  

  

Nasdaq 100 (NQ)

Prior Session was Cycle Day 1: Normal decline which produced a new cycle low at 19017, as price traded above our LIS (19040) outlined in prior DTS Briefing 6.6.24 within a relatively narrow range throughout the session. Range was 107 handles on 514k contracts exchanged

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2: Potentially market-moving event is the NFP Report with an expected 190K addition. Regardless of the actual number, we will remain true to our discipline of aligning with the dominant forces of the day and seek out our A-Plus+ trade opportunities. 

As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 19070, initially targets 19125 – 19140 zone. 

Bear Scenario: Price sustains an offer below 19070, initially targets 19017 – 19003 zone.

PVA High Edge = 19089       PVA Low Edge = 19047     Prior POC = 19067

Range Projections (NQ) June 2024 (M)

• BULL ATR Range Projection >>> 19335
• BEAR ATR Range Projection >>> 18803

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.” 

*****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