Markets (High Tales)
Supply: investing.com
Financial Calendar
S&P 500
Prior Session was Cycle Day 2: Worth prolonged this cycle’s decline right down to key FOMC (SoC) and NVPOC 5235 – 5240 zone, as responsive consumers had been lively, offering ample assist. Cycle Day 2 consolidation entrenched the rest of session, with a ultimate bid up into closing rotation. Vary was 61 handles on 1.339M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Worth closed nicely beneath CD1 Low (5282.25), so job #1 for cycle bulls can be to reclaim this stage throughout at the moment’s session. This may increasingly seem like a tall order, however historic odds (90%) favor buying and selling equal to or above (=/>) CD1 Low on CD3.
Having closed close to excessive of the day and at key excessive quantity edge waypoint (5262), we’ll mark as at the moment’s Line in the Sand (LIS). Keep in-mind, that the LIS (ES) is a zone with plus/minus (+-) 5 pts aside.
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5262, initially targets 5275 – 5282 zone.
Bear Scenario: Price sustains an offer below 5262, initially targets 5250 – 5245 zone.
PVA High Edge = 5257 PVA Low Edge = 5236 Prior POC = 5244
*****The 3 Day Cycle has a 90% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
Range Projections (ES) June 2024 (M)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2: Price extended this cycle’s decline down to key FOMC (SoC) as responsive buyers were active, providing ample support. Cycle Day 2 consolidation entrenched the remainder of session, with a final bid up into closing rotation. Range was 309 handles on 606k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Price closed well below CD1 Low (18414.50), so job #1 for cycle bulls will be to reclaim this level during today’s session. This may appear to be a tall order, but historical odds (90%) favor trading equal to or above (=/>) CD1 Low on CD3.
Having closed near high of the day and at key high volume edge waypoint (18345), we’ll mark as today’s Line in the Sand (LIS). Keep in-mind, that the LIS (NQ) is a zone with plus/minus (+-) 15 pts aside.
As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 18345, initially targets 18400 – 18450 zone.
Bear Scenario: Price sustains an offer below 18345, initially targets 18280 – 18250 zone.
PVA High Edge = 18304 PVA Low Edge = 18212 Prior POC = 18280
Range Projections (NQ) June 2024 (M)
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.” –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
