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Source: investing.com
Economic Calendar
S&P 500
Previous Session was 3rd day of cycle: The three-day cycle goal (5250) was met on this cycle day to complete a “textbook” cycle rotation. The range was 84 handles on 1.688 million contracts traded.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us to 1st cycle day: The average drop for CD1 is 5222. The bulls finished the previous cycle with “control of the ball”, so it’s theirs to lose. The price remains at the multi-day composite intermediate point, so the battle for the directional bias continues.
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 bid above 5250, initially targets 5270 – 5275 zone.
Bear Scenario: Price maintains a bid below 5250, initially targeting the 5230 – 5225 zone.
PVA High Edge = 5232 PVA Low Edge = 5178 Prior POC = 5213
*****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 3rd day of cycle: The three-day cycle goal (18490) was met on this cycle day to complete a “textbook” cycle rotation. The range was 430 handles on 717,000 contracts traded.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us to 1st cycle day: The average drop for CD1 is 18403. The bulls finished the previous cycle with “control of the ball”, so it’s theirs to lose. The price is at the upper end of the multi-day composite value zone with significant levels above which it needs to break, but for now, the slight advantage favors the bulls.
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 18490, initially targeting the 18565 – 18600 zone.
Bear Scenario: Price maintains a bid below 18490, initially targeting the 18415 – 18355 zone.
PVA High Edge = 18353 PVA Low Edge = 18115 Prior POC = 18248
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 ‘education only’ and should not be construed in any way 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 AN ACTUAL 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 SIMILAR TO THOSE SHOWN
