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Source: investing.com
Economic Calendar
S&P 500
Previous Session was 2nd cycle day: Regular CD2 as price oscillated within a well-defined RTH range, testing the 5300 – 5305 upper limit zone as well as testing the 5290 – 5295 gap covering zone. The range was 24 handles at 1.043 million contracts traded.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us to 3rd day of cycle: This is a shortened holiday week with Good Friday closed. Bulls maintain control above the 5290 – 5295 zone and a recovery above the 5305 – 5310 zone which would target the recent highs. If they “slip onto the soap bar” lower targets are 5275 – 5265 Central 3-Day Rotation Zone.
As always, our regular trading plan remains unchanged… Stay aligned with the dominant forces within the day. Hence, scenarios to consider for today’s trading.
Taurus Scenario: Price holds bid above 5295, initially targets 5305 – 5310 zone.
Bear Scenario: Price maintains a bid below 5295, initially targeting the 5275 – 5265 zone.
PVA High Edge = 5302 PVA Low Edge = 5293 Prior POC = 5300
*****THE The 3 Day Cycle has a 90% chance of meeting positive cycle statistics covering 12 years of recorded tracking history.
Range Projections (ES) June 2024 (M)
Nasdaq 100 (NQ)
Previous Session was 2nd cycle day: Normal CD2 as a value ranged within the defined PTG range parameters of 18495 – 18620 hitting perfectly as previously described DTS Update 3.22.24. The range was 126 handles in 392k contracts traded.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us to 3rd day of cycle: This is a shortened holiday week with Good Friday closed. Bulls maintain control above 18500 and a recovery above 18600 would target recent highs. If they “slip on the soap bar” lower meter 18450 – 18420 Central 3-Day Rotation Zone.
As always, our regular trading plan remains unchanged… Stay aligned with the dominant forces within the day. Hence, scenarios to consider for today’s trading.
Taurus Scenario: Price maintains a bid above 18600, initially targeting the 18685 – 18745 zone.
Bear Scenario: Price maintains a bid below 18600, initially targeting the 18450 – 18420 zone.
PVA High Edge = 18577 PVA Low Edge = 18504 Prior POC = 18537
Range Projections (NQ) June 2024 (M)
Commercial Strategy: Our regular trading strategy will simply remain unchanged…We will be flexible in trading both long and short from the Aggregate Decision Levels. Keep focusing on Bulls/Bear Stackers and Premium/Discounts. As always, staying in line with the dominant force within the day increases the chances of producing profitable trades.
Stay focused…Unbiased…Disciplined ALWAYS USE STOPS!
Good trading…David
“Knowing is not enough, we have to apply. Willing is not enough, we must DO.” –Bruce Lee
*****This trading strategy report is distributed for “educational purposes only” and should in no way be construed as a recommendation to buy or sell futures.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
IMPORTANT NOTE! No representation is made that the use of this strategy or any trading system or methodology will result in profits. Past performance is not necessarily indicative of future results. There is a significant risk of loss associated with trading securities and stock options. Only venture capital should be used for trading. Securities trading is not for everyone.
Disclaimer: Futures, options and currency trading all have great potential rewards, but they also have great potential risk. You must be aware of the risks and be willing to accept them to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither an invitation nor an offer to Buy/Sell futures, options or currencies. No representation is made that any account will or is likely to achieve profits or losses similar to those discussed on this website. Past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 –THE HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE SPECIFIC LIMITATIONS. UNLIKE A REAL PERFORMANCE RECORD, THE SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRANSACTIONS. ALSO, AFTER THE TRANSACTIONS HAVE NOT BEEN EXECUTED, THE RESULTS MAY BE UNDER-ORDERED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LIQUIDITY. TRADING SIMULATION PROGRAMS ARE GENERALLY ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF RECEIVING. NO REPRESENTATION IS MADE THAT ANY ACCOUNT IS LIKELY TO ACHIEVE PROFITS OR LOSSES COMPLIANT TO THOSE SHOWN
