Market (top article)
Economic calendar (4/1-4/5)
https://www.investing.com/economic-calendar/
S&P500
The previous session Cycle day 3: Three-day cycle statistics were achieved today as last week’s price ended at an all-time high. The Bulls are “Rockin’” so we will continue to properly RESPECT! The range was 20 handles with 1.13 million contracts exchanged.
…Transition from cycle day 3 to cycle day 1
this leads us Cycle day 1: The average decline on day 1 of the cycle is 5273. The major support is marked at the 5300 round. Upper support is marked at 5320 as long as a sustained bid can hold. If successful, the upside target would be 5330-5335. Failure to sustain a sustained bid opens the pit for a potential reversal trade back to key support.
As always, our tactical trade plan remains the same…staying aligned with the dominant power in Japan and China.
Scenarios to consider when trading today.
bull scenario: Prices will remain bid above 5320 and will initially target the 5330-5335 zone.
bear scenario: The price will keep the offer below 5320 and initially target the 5305-5300 zone.
PVA high edge = 5314 PVA low edge = 5506 Previous POC = 5310
***** A 3-day cycle satisfies the positive cycle statistics 90% of the time, covering 12 years of recorded tracking history.
Range Forecast (ES) June 2024 (M)
Nasdaq 100 (NQ)
The previous session Cycle day 3: Three-day cycle statistics were achieved today as last week’s price ended at an all-time high. The Bulls are “Rockin’” so we will continue to properly RESPECT! The range was 91 handles with 505,000 contracts exchanged.
…Transition from cycle day 3 to cycle day 1
this leads us Cycle day 1: The average decline on day 1 of the cycle is 18423. Major support is marked at 18450. As long as a sustained bid holds, upper support is marked at 18530. If successful, the upside target would be 18590-18620. Failure to sustain a sustained bid opens the door to a potential reversal trade back to major support.
As always, our tactical trade plan remains the same…staying aligned with the dominant power in Japan and China.
Scenarios to consider when trading today.
bull scenario: Prices will maintain bids above 18530 and initially target the 18590-18620 zone.
bear scenario: Keep the price offer below 18530 and initially target the 18490-18450 zone.
PVA high edge = 18507 PVA low edge = 18472 Previous POC = 18490
Range Prediction (NQ) June 2024 (m)
Trade strategy: Our tactical trading strategy remains unchanged. Flexibly trade on both the long and short sides from your decision-making pivot level.stay focused bull/bear stacker and Premium/Discount. As always, staying aligned with the dominant forces during the day increases the probability of a winning trade.
Stay focused… Stay open-minded… Stay disciplined Always use stops.
Good deal…David
“Knowing is not enough, we must apply. Willingness alone is not enough, we must act.” –Bruce Lee
*****This trading strategy report is distributed for “educational purposes only” and should in no way be considered as a recommendation to buy or sell futures products. ”
Past performance is not necessarily indicative of future results
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