Markets
US stocks rallied on Wednesday as investors digested the Federal Reserve’s latest decision to hold interest rates steady and a tech revival sent the Nasdaq surging.
The S&P 500 (^GSPC) rose nearly 1.6% while the tech-heavy Nasdaq Composite (^IXIC) soared more than 2.6%. The Dow Jones Industrial Average (^DJI) rose a more modest 0.2%.
Stocks extended their gains for the day as Fed Chair Jerome Powell told reporters a September cut “could be on the table.” While Powell noted the Fed has “made no decisions about future meetings and that includes the September meeting,” he also acknowledged that “the broad sense of the committee is that the economy is moving closer to the point at which it will be appropriate to reduce our policy rate.”
Source: Yahoo Finance
Economic Calendar
S&P 500
Prior Session was Cycle Day 1: Price surpassed all CD1 levels as FED anticipation of Sept rate cut fueled today’s volatile rally. Today was a case to “get onboard” early or be left behind as a “Gap and Go” left many traders chasing price higher in a classic FOMO rally. Range was 137 handles on 2.025M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Price is back above the multi-day composite range (5445 – 5540) with bulls firmly back in-control. We’ll initially be anticipating MATD rhythms with the 5540 handle critical pullback support for bulls to hold above. Further upside measure’s between 5596 – 5622 should the bulls continue the “ramp-up.”
Know Thy 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 5575, initially targets 5610 – 5620 zone.
Bear Scenario: Price sustains an offer below 5575, initially targets 5560 – 5555 zone.
PVA High Edge = 5573 PVA Low Edge = 5541 Prior POC = 5560
PTG 3 Day Cycle
EXCLUSIVE OFFER
*****The 3 Day Cycle has a 90% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
ES Chart
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Price surpassed all CD1 levels as FED anticipation of Sept rate cut fueled today’s volatile rally. Today was a case to “get onboard” early or be left behind as a “Gap and Go” left many traders chasing price higher in a classic FOMO rally. Range was 786 handles on 744k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Price is back above the multi-day composite range (18736 – 19380 ) with bulls firmly back in-control. We’ll initially be anticipating MATD rhythms with the 19490 handle critical pullback support for bulls to hold above. Further upside measure’s between 19776 – 19822 should the bulls continue the “ramp-up.”
Know Thy 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 19635, initially targets 19708 – 19777 zone.
Bear Scenario: Price sustains an offer below 19635, initially targets 19563 – 19490 zone.
PVA High Edge = 19563 PVA Low Edge = 19360 Prior POC = 19463
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