S&P 500
Prior Session was Cycle Day 3: Markets continued this cycle’s rally fulfilling the 5915.25 3 Day Cycle Target which had a 95% probability of achievement, as shown on the subscriber spreadsheet below. Prior range was 68 handles on 841k contracts exchanged. For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.14.24
Check out the link to learn more about the Taylor Cycle and secure your FREE TRIAL.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Market closed near their All-Time Highs; As such, momentum may push price higher before the next decline unfolds with the average measuring 5883.
Key for today will be 5915 which is a key high going back to July low (5564) to August high (5662) channel wedge line. Yesterday’s rally was on significantly lower volume that could be a result of Banks and Bonds being closed, or perhaps the buying tank is nearing empty. We’ll leave that type of speculation and the read-through to the “bobble-heads.
Our job #1 is to read price action and stay aligned with the direction that Mr. Market will lead for us and not question the rationale.
We’ll be keying off the 5895 – 5915 zone for either continuation higher or for a corrective decline lower. Between these levels price can continue to consolidate filling out the profile before the next directional move.
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 5915, initially targets 5925 – 5930 zone.
Bear Scenario: Price sustains an offer below 5895, initially targets 5885 – 5875 zone.
PVA High Edge = 5913 PVA Low Edge = 5894 Prior POC = 5909
ES (Chart Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Markets continued this cycle’s rally to 20665, closing near highs of the day on Bank and Bond holiday trade. Prior range was 296 handles on 385k contracts exchanged. For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.14.24
Check out the link to learn more about the Taylor Cycle and secure your FREE TRIAL.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Market closed near their highs, as such, momentum may push price higher before the next decline unfolds with the average measuring 20558.
Key for today will be 20655 P-VAH. Yesterday’s rally was on significantly lower volume that could be a result of Banks and Bonds being closed, or perhaps the buying tank is nearing empty. We’ll leave that type of speculation and the read-through to the “bobble-heads.
Our job #1 is to read price action and stay aligned with the direction that Mr. Market will lead for us and not question the rationale.
We’ll be keying off the 20655 – 20585 zone for either continuation higher or for a corrective decline lower. Between these levels price can continue to consolidate filling out the profile before the next directional move.
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 20655, initially targets 20700– 20725 zone.
Bear Scenario: Price sustains an offer below 20585, initially targets 20560 – 20540 zone.
PVA High Edge = 20650 PVA Low Edge = 20558 Prior POC = 20610
NQ Chart (Profile)
Economic Calendar
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