Markets (Prime Tales)
Supply: investing.com
Financial Calendar
S&P 500
Prior Session was Cycle Day 2: Having set up a deep CD1 Low on the promote down final Thursday, worth retested and located responsive patrons pre-RTH, which transformed into initiative shopping for throughout RTH. Friday rallies are to not be pale, and this one was no completely different, fulfilling 3 Day Cycle Goal 5270, earlier than settling again into the closing rotation. Vary was 81 handles on 1.837M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Worth violated the FOMC breakout (5248) however has since recovered at week’s finish. Additional energy above will favor bullish situations for potential retest of 5320 deal with. Holding under offers the sting to the bearish situations to retest 5195 deal with. Market is clear at an vital Decision Point (DP) for directional dominance, so we’ll stay focused and flexible.
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 5250, initially targets 5270 – 5275 zone.
Bear Scenario: Price sustains an offer below 5250, initially targets 5230 – 5225 zone.
PVA High Edge = 5268 PVA Low Edge = 5223 Prior POC = 5251
*****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: Having establish a deep CD1 Low (18055) on the sell down last Thursday, price retested and found responsive buyers pre-RTH, which converted into initiative buying during RTH. Friday rallies are not to be faded, and this one was no different, fulfilling 3 Day Cycle Target 18381, before settling back into the closing rotation. Range was 356 handles on 795k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Price violated the FOMC breakout (18300) but has since recovered at week’s end. Further strength above will favor bullish scenarios for potential retest of 18560 handle. Holding below gives the edge to the bearish scenarios to retest 18055 handle. Market is obvious at an important Decision Point (DP) for directional dominance, so we’ll stay focused and flexible.
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 18300, initially targets 18455 – 18500 zone.
Bear Scenario: Price sustains an offer below 18300, initially targets 18225 – 18190 zone.
PVA High Edge = 18382 PVA Low Edge = 18192 Prior POC = 18285
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
