Markets
Economic Calendar
Source: Investing.com
S&P 500
Prior Session was Cycle Day 3: Positive Three-Day Cycle was fulfilled with 91.67% accuracy covering twelve-plus years of tracking history. We knew the odds were favorable to rally post OPEX as Tech rebounded strongly lead by Nvidia (NVDA), Range was 62 handles on 1.613M 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 CD1 Average Decline measuring 5581 handle. Bulls have closing ball control from yesterday, so they’ll be looking to extend this momentum higher, but will need to convincingly C&C the 3 Day Central Pivot Zone (5614 – 5622). Break back below 5595 sets in-motion the average decline target.
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 5615, initially targets 5622 – 5629 zone.
Bear Scenario: Price sustains an offer below 5615, initially targets 5600 – 5595 zone.
PVA High Edge = 5615 PVA Low Edge = 5586 Prior POC = 5610
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 91.67% 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 91.67% accuracy covering twelve-plus years of tracking history. We knew the odds were favorable to rally post OPEX as Tech rebounded strongly lead by Nvidia (NVDA), Range was 325 handles on 764k 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 CD1 Average Decline measuring 19833 handle. Bulls have closing ball control from yesterday, so they’ll be looking to extend this momentum higher, but will need to convincingly C&C the 3 Day Central Pivot Zone (19975 – 20030). Break back below 19910 sets in-motion the average decline target.
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 20030, initially targets 20093 – 20150 zone.
Bear Scenario: Price sustains an offer below 20030, initially targets 19925 – 19910 zone.
PVA High Edge = 20030 PVA Low Edge = 19892 Prior POC = 20002
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