S&P 500
Prior Session was Cycle Day 1: Price declined for this cycle day as anticipated (see quote below) and established a new cycle low at 5801. Today’s decline should not have been a surprise if you have consistently been reviewing the briefing daily, which is designed to “prepare” PTG Traders for the market’s potentialities.
In prior DTS Briefing 10.23.24 we opined regarding the previous cycle’s weak performance:
“Strong as this statistic is, this cycle ending only reached 26.55% of the targeted range for the entire cycle. This reading is indeed weak and a possible “early-warning” that sentiment may be in its early stages of changing.”
“We will need to monitor closely for next few cycles for a clearer read-through. For now, just be aware that the upside momentum has for the most part weakened, potentially signaling lower sessions ahead.”
Well, “timing is everything” as they say! We were anticipating “more of the same rhythms”…BUT with a cautious warning. As always, Mr. Market is the final arbiter of when and what direction the markets will move. Our job as the DTS has stated in this publication daily: “Our discipline of maintaining positioning that is aligned with market forces continues to serve us well, so stay the course.”
*****I have a question for you…Why have you not yet signed-up for the FREE TRIAL of the PTG 3 Day Cycle? Check out the link to learn more about the Taylor Cycle and secure your FREE TRIAL.
Reason for my question is that the 3 Day Cycle has a long-term track record of consistency fulfilling a Positive 3-Day Cycle.
In-fact, the statistic currently stands at 92.86% accuracy. Positive 3-Day Cycle, which means that Price is Greater Than Cycle Day 1 Low on Cycle Day 3 during the RTH Session. To express this in mathematical code: (P > CD1 Low on CD3 ~ RTH).
For a real-time example from yesterday’s 10/23/24 trading session which was a Cycle Day 1, had an expectation for a decline. The daily e-book spreadsheet which is delivered to subscribers by 5 pm eastern time for the next trade session, with all the target levels clearly displayed, along with the percentage probabilities of fulfilling said targets.
Back to the example:
Lower targets for Cycle Day 1 were projected to be 5814 (95%) Average Decline, followed by 5801 (40%) based on a Violation. Do not know what a “Violation” means? Take the FREE TRIAL
Here is a screenshot from yesterday’s projected lower targets for Cycle Day 1. NOTE: Lower target was projected to be 5801.00 Actual Low of the Day >>>>> 5801.00
IF you think the 3 Day Cycle is pure BS, then my recommendation is to keep to your current trade plan and do not change a thing. IF on the other hand, you are open-minded and willing to explore new trading avenues, then my recommendation is to >>> Take the FREE TRIAL No obligation, simply cancel before the two-week trial expires and return to your trading.
PTG cannot guarantee any success with the 3-Day Cycle, but it is within every trader’s reach IF and I stress IF they are committed to working hard learning about the cycle and incorporating it into a well-structured trade plan.
Thank you…PTGDavid
Back to the regular scheduled Briefing.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.23.24
Check out the link to learn more about the Taylor Cycle and secure your FREE TRIAL.
…Transition from Cycle Day 1 to Cycle Day 2`
Transition into Cycle Day 2: Today we’ll be anticipating normal CD2 rhythms known as MATD (Morning/Market After Trend Day). Key Support at 5800 elicited a strong late day buy response settling price near the prior session’s midpoint (5847).
There is plenty of room given yesterday’s range (92.75) for price to maneuver, with potential in either direction. One scenario would be a retest of the CD1 Low (5801) for surety, but does not need to retest. Another scenario would be for price to clear above the Midpoint and continue its late day relief rally trapping late-comer shorts.
Either way, our goal remains tethered to our discipline of staying aligned with market forces and be opportunistic in trade selection, with proper position sizing and risk management.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5850, initially targets 5865 – 5870 zone.
Bear Scenario: Price sustains an offer below 5850, initially targets 5830 – 5825 zone.
PVA High Edge = 5857 PVA Low Edge = 5803 Prior POC = 5837
ES (Chart Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Normal Cycle Day 1 (CD1) as long liquidation smashed price down to fulfill 20090 lower Violation Target. Fantastic display of the accuracy of the Taylor 3-Day Cycle as actual low of the day was 20070.
Here is screenshot of e-book spreadsheet displaying all the projected targets published for subscriber the evening prior to the next trade session. Check out the link to learn more about the Taylor Cycle and secure your FREE TRIAL.
…Transition from Cycle Day 1 to Cycle Day 2
Transition into Cycle Day 2: Today we’ll be anticipating normal CD2 rhythms known as MATD (Morning/Market After Trend Day). There is plenty of room given yesterday’s range (463.50) for price to maneuver, with potential in either direction.
Either way, our goal remains tethered to our discipline of staying aligned with market forces and be opportunistic in trade selection, with proper position sizing and risk management.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 20295, initially targets 20366– 20393 zone.
Bear Scenario: Price sustains an offer below 20295, initially targets 20222 – 20175 zone.
PVA High Edge = 20529 PVA Low Edge = 20219 Prior POC = 20431
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.
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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