US stocks ended the session mixed on Monday, kicking off a big week on Wall Street amid a Federal Reserve rate decision, the jobs report, and Big Tech earnings.
The Dow Jones Industrial Average (^IXIC) fell 0.1% after soaring over 650 points on Friday. The S&P 500 (^GSPC) gained 0.1% while the tech-heavy Nasdaq Composite (^IXIC) rose almost 0.1%.
Source: Yahoo Finance
Economic Calendar
S&P 500
Prior Session was Cycle Day 2: As expected, price consolidated throughout the session as markets are in a “holding-pattern” awaiting a slew of economic, earnings and FED play on Wednesday. Range was 53 handles on 1.643M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Three-Day Cycle Target (5518) has been achieved so we’ll mark today as a “wild-card” for direction. Core value area range is 5475 – 5525 for breakout parameters. We’ll continue to favor consolidation-type trade until there is a definitive shift.
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 5500, initially targets 5525 – 5530 zone.
Bear Scenario: Price sustains an offer below 5500, initially targets 5475 – 5470 zone.
PVA High Edge = 5518 PVA Low Edge = 5500 Prior POC = 5508
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2: As expected, price consolidated throughout the session as markets are in a “holding-pattern” awaiting a slew of economic, earnings and FED play on Wednesday. Range was 264 handles on 591k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Three-Day Cycle Target (19362) has been achieved so we’ll mark today as a “wild-card” for direction. Core value area range is 19100 – 19300 for breakout parameters. We’ll continue to favor consolidation-type trade until there is a definitive shift.
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 19210, initially targets 19295 – 19360 zone.
Bear Scenario: Price sustains an offer below 19210, initially targets 19100 – 19050 zone.
PVA High Edge = 19327 PVA Low Edge = 19227 Prior POC = 19302
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