S&P 500
Prior Session was Cycle Day 2: Today’s trading was a “textbook” CD2 example of MATD -“Morning/Market After Trend Day” rhythms as price fulfilled the 5865 – 5870 target zone and oscillated between 5825 – 5855.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.24.24
Check out the link to learn more about the Taylor Cycle and secure your FREE TRIAL.
…Transition from Cycle Day 2 to Cycle Day 3
Transition into Cycle Day 3: Positive 3-Day Cycle (92.68%) is expected to be satisfied as price is trading securely above the CD1 Low (5801).
We’ll be monitoring closely how today trades and the week’s closing sentiment. The current pullback does no damage to the larger bullish uptrend structure.
Bulls objective is to defend prior session’s 5825 – 5830 zone, and push for a move above 5865 – 5870 zone to close the week strong.
Bears are diametrically opposed and clearly are looking to force a break below 5825 for a retest of the 5800 handle.
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 5850, initially targets 5865 – 5870 zone.
Bear Scenario: Price sustains an offer below 5850, initially targets 5830 – 5825 zone.
PVA High Edge = 5853 PVA Low Edge = 5841 Prior POC = 5856
ES (Chart Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2: Today’s trading was a “textbook” CD2 example of MATD -“Morning/Market After Trend Day” rhythms as price fulfilled the 20366 – 20393 target zone and oscillated between 20262 – 20413.
…Transition from Cycle Day 2 to Cycle Day 3
Transition into Cycle Day 3: Positive 3-Day Cycle (92.68%) is expected to be satisfied as price is trading securely above the CD1 Low (20079).
We’ll be monitoring closely how today trades and the week’s closing sentiment. The current pullback does no damage to the larger bullish uptrend wedge structure.
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 20355, initially targets 20425– 20530 zone.
Bear Scenario: Price sustains an offer below 20355, initially targets 20260 – 20220 zone.
PVA High Edge = 20379 PVA Low Edge = 20314 Prior POC = 20354
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