Markets (Prime Tales)
Supply: investing.com
Financial Calendar
S&P 500
Prior Session was Cycle Day 2: Regular CD2 as worth retreated, discovering renewed purchase response from inside 5265 – 6270 zone outlined in prior DTS Briefing 6.4.24. MATD Rhythms were the dominant feature, as /balancing/consolidation kept prices in check. Range was 50 handles on 1.631M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Price closed in upper quartile of the range with a firm bid. Three-Day Cycle Target (5315) is within the potential of being fulfilled for today’s session, as bulls remain dominant. We’ll mark today as a “wild-card” given the consolidation theme with price above Cycle Day 1 Low (5246.75) which satisfies Positive 3 Day Cycle Statistic (91.67%).
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5290, initially targets 5315 – 5320 zone.
Bear Scenario: Price sustains an offer below 5290, initially targets 5275 – 5270 zone.
PVA High Edge = 5297 PVA Low Edge = 5275 Prior POC = 5285
*****The 3 Day Cycle has a 91.67% 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: Normal CD2 as price retreated, finding renewed buy response from within 18540 – 18520 zone outlined in prior DTS Briefing 6.4.24. MATD Rhythms were the dominant feature, as /balancing/consolidation kept prices in check. Range was 242 handles on 608k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3: Price closed in upper quartile of the range with a firm bid. Three-Day Cycle Target (18763) is within the potential of being fulfilled for today’s session, as bulls remain dominant. We’ll mark today as a “wild-card” given the consolidation theme with price above Cycle Day 1 Low (18435.75) which satisfies Positive 3 Day Cycle Statistic.
As such, scenarios to consider for today’s trading.
.Bull Scenario: Price sustains a bid above 18690, initially targets 18760 – 18800 zone.
Bear Scenario: Price sustains an offer below 18690, initially targets 18595 – 18580 zone.
PVA High Edge = 18660 PVA Low Edge = 18580 Prior POC = 18625
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.” –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
