Markets
Economic Calendar
S&P 500
Prior Session was Cycle Day 2: Fantastic CD2 performance as price extended this cycle’s rally by fulfilling 5707.75 3 Day Cycle Target “to-the-tick” as outlined in prior DTS Briefing 7.11.24, as well as high of the day. The accuracy of the Three-Day Cycle is astonishing!
Price did reverse the anticipatory rally ahead of the CPI. taking price down to Cycle Day 1 Low (5630.75) where buyers continued to respond with supportive bids. Range for ES was 77 handles on 1.889M contracts exchanged.
As posted in PTG Trading Room:
“PTGDavid : (8:32:57 AM) : “Bull Scenario: Price sustains a bid above 5685, initially targets 5702 – 5707 zone.”
“PTGDavid : (8:33:14 AM) : “BOOOM!!!! 5707 TGT FULFILLED!”
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Key Support is marked at 5630 where buyers remained active during prior session and will be key for today’s session as well. Should this level be violated and converted, next zone of interest is 5610 – 5605. As long as price trades above CD1 Low, Positive 3-Day Cycle will be satisfied.
You Know The Plan! 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 5630, initially targets 5650 – 5655 zone.
Bear Scenario: Price sustains an offer below 5630, initially targets 5610 – 5605 zone.
PVA High Edge = 5667 PVA Low Edge = 5630 Prior POC = 5642
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 91.11% 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 2: Fantastic CD2 performance as price extended this cycle’s rally by fulfilling 20980 target as outlined in prior DTS Briefing 7.11.24.
“Bull Scenario: Price sustains a bid above 20895, initially targets 20950 – 20980 zone.”
Price did reverse the anticipatory rally ahead of the CPI, taking price down surpassing Cycle Day 1 Low (20684.50). hitting 20377.25 low. Range for NQ was 606 handles (2X ADR) on 888k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Support is marked at 20375 will be key for today’s session. Should this level be violated and converted, next zone of interest is 20238 – 20180 zone. Price closed below CD1 Low (20684.50) and will need to recover this level to secure a positive 3-Day Cycle.
You Know The Plan! 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 20455, initially targets 20585 – 20635 zone.
Bear Scenario: Price sustains an offer below 20455, initially targets 20375 – 20295 zone.
PVA High Edge = 20983 PVA Low Edge = 20478 Prior POC = 20680
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.
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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