Markets (High Tales)
It’s an enormous week on the macro entrance with the Federal Reserve assembly and jobs report. Traders will search for extra path on whether or not the economic system is heating or cooling. The rate of interest coverage assertion from the FOMC might be watched extra for any verbiage modifications, with futures buying and selling implying a 97% likelihood that rates of interest might be saved at their present ranges. Fed Chairman Jerome Powell’s Q&A will even be carefully watched for any hints on when the Fed would possibly take into account its first fee minimize of the cycle.
Supply: investing.com
Financial Calendar
S&P 500
Prior Session was Cycle Day 2: Opening Hole larger simply cleared the three Day Cycle Goal (5098) and fulfilled CD2 Penetration Degree (5146.50) “to-the-tick” …AMAZING! The rest of the day glad the MATD anticipated rhythms. Vary was 42 handles on 1.383M contracts exchanged.
***NOTE: IF you wish to study extra about how the 3-day cycle ranges are derived, THEN take a look at the FREE TRIAL supply under. Cycle Evaluation is an integral a part of the PTG Methodology.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Cycle Goal (5098) has been fulfilled, so we’ll mark in the present day as a “wild-card” with bulls clearly in-control, it’s theirs to lose. Key Line-in-the-Sand is 5125 which represents the prior Worth Space Low edge. Violation and conversion under would put stress on lengthy bias lean.
As all the time, our tactical commerce plan stays unchanged…Keep in alignment with dominant intra-day forces. As such, situations to think about for in the present day’s buying and selling.
Bull Situation: Value sustains a bid above 5125, initially targets 5140 – 5145 zone.
Bear Situation: Value sustains a suggestion under 5125, initially targets 5110 – 5105 zone.
PVA Excessive Edge = 5143 PVA Low Edge = 5126 Prior POC = 5131
*****The 3 Day Cycle has a 90% likelihood of fulfilling Optimistic Cycle Statistics masking 12 years of recorded monitoring historical past.
Vary Projections (ES) June 2024 (M)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2: Opening Hole larger simply cleared the three Day Cycle Goal (17652) and fulfilled CD2 Penetration Degree (17875). The rest of the day glad the MATD anticipated rhythms. Vary was 233 handles on 620k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Cycle Goal (17652) has been fulfilled, so we’ll mark in the present day as a “wild-card” with bulls clearly in-control, it’s theirs to lose. Key Line-in-the-Sand is 17825 which represents a key quantity edge. Violation and conversion under would put stress on lengthy bias lean.
Bull Situation: Value sustains a bid above 17825, initially targets 17900 – 17950 zone.
Bear Situation: Value sustains a suggestion under 17825, initially targets 17765 – 17735 zone.
PVA Excessive Edge = 17893 PVA Low Edge = 17765 Prior POC = 17843
Vary Projections (NQ) June 2024 (M)
Commerce Technique: Our tactical commerce technique will merely stay unaltered…We’ll be versatile to commerce each lengthy and quick aspect from Choice Pivot Ranges. Proceed to concentrate on Bull/Bear Stackers and Premium/Reductions. As all the time, remaining in alignment with dominant intra-day power will increase chances of manufacturing profitable trades.
Keep Centered…Non-Biased…Disciplined ALWAYS USE STOPS!
Good Buying and selling…David
“Realizing just isn’t sufficient, We should APPLY. Prepared just isn’t sufficient, We should DO.” –Bruce Lee
*****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
