Markets
Supply: cnbc.com
Financial Calendar
S&P 500
Prior Session was Cycle Day 1: Morning rally hit a brand new ATH however couldn’t maintain bid, as value reversed route with persistent promoting all through the day. Buy response developed at the 3-Day Central Pivot Zone, establishing a new cycle low at 5665.50. Range was 53 handles on 1.635M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: This cycle’s rally has begun from the deep late sell down during prior session, with upside target zone measuring between 5702 – 5708. We’ve seen recent intra-day range activity developing into more wider ranges, so we’ll remain flexible to either side of the trade ledger. Normal for CD2 is two-way traffic consolidation.
You Know The 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 5685, initially targets 5702 – 5708 zone.
Bear Scenario: Price sustains an offer below 5685, initially targets 5670 – 5665 zone.
PVA High Edge = 5698 PVA Low Edge = 5678 Prior POC = 5690
*****The 3 Day Cycle has a 91.30% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
Link to: Dynamic Range Projections (ES) Sept (U) 2024
ES Chart
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Morning rally fulfilled projected D-Level 20795.75 target, but could not sustain a bid. As such, price reversed direction, ultimately finding responsive buyers at 20510 (P-VAL). New cycle low was established at 20506.25. Range was 290 handles on 693k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2: Normal for CD2 is for two-way trade action and with price in the middle of 5-day value zone, well be anticipating some decent trade opportunities for this cycle day.
You Know The 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 20625, initially targets 20683 – 20710 zone.
Bear Scenario: Price sustains an offer below 20625, initially targets 20538 – 20526 zone.
PVA High Edge = 20670 PVA Low Edge = 20567 Prior POC = 20625
Link to: Dynamic Range Projections (NQ) Sept (U) 2024
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
