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Source: investing.com
Economic Calendar
S&P 500
Contract change: Next month June (M)
Previous Session was 2nd cycle day: This session was clearly a distribution day as every attempt to clear the VWAP zone was rejected with a strong selling response. Longs eventually buckled under persistent selling pressure meeting the projected range of 5190 CD2 lows. This also matched PTG’s Target Master Zone (5192). The range was 65 handles on 1.961 million contracts traded.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us to 3rd day of cycle: The MAIN EVENT for today’s session is TRIPLE WITCH OPEX. The price is hovering at the CD1 Low (5217), which we will use as today’s line in the sand (LIS). Positive three-day statistics will be satisfied by trading above this level during the RTH.
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 5217, initially targets 5230 – 5235 zone.
Bear Scenario: Price maintains a bid below 5217, initially targeting the 5205 – 5195 zone.
PVA High Edge = 5224 PVA Low Edge = 5202 Prior POC = 5118
*****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: This session was clearly a distribution day as any attempt to clear the VWAP zone was rejected with a strong selling response. Longs eventually buckled under persistent selling pressure meeting the projected 18223 CD2 range low. This also matched PTG’s Target Master Zone (18183). The range was 267 handles on 786,000 contracts traded.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us to 3rd day of cycle: The MAIN EVENT for today’s session is TRIPLE WITCH OPEX. The price is hovering at the CD1 Low (18282), which we will use as today’s Line in the Sand (LIS). Positive three-day statistics will be satisfied by trading above this level during the RTH.
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 18282, initially targeting the 18325 – 18345 zone.
Bear Scenario: Price maintains a bid below 18282, initially targeting the 18215 – 18185 zone.
PVA High Edge = 18332 PVA Low Edge = 18215 Prior POC = 18290
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 UNDER-OR-OVERCOMPENSATE THE EFFECTS, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF 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
