S&P 500
Prior Session was Cycle Day 3: Positive Three-Day Cycle as price easily fulfilled the 92% statistic defined as Price Greater Than Cycle Day 1 Low on Cycle Day 3. (P > CD1 ~ CD3) Also, our Cycle Options Trade played out beautifully by doubling over this period. We’ll be looking to establish a new options play this cycle.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.30.24
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: Price closed near the low of the day with anticipation of a continued “spill-over” into today’s session. Primary goal of CD1 is to establish a new secure cycle low from which to stage the next rally. Average Decline for CD1 measures 5818.
We’ll continue to remain true to our discipline in maintaining positioning that is aligned with market forces which 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 5840, initially targets 5855 – 5860 zone.
Bear Scenario: Price sustains an offer below 5840, initially targets 5825 – 5820 zone.
PVA High Edge = 5885 PVA Low Edge = 5860 Prior POC = 5878
ES (Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Positive Three-Day Cycle as price easily fulfilled the 92% statistic defined as Price Greater Than Cycle Day 1 Low on Cycle Day 3. (P > CD1 ~ CD3)
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.30.24
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Price closed near the low of the day with anticipation of a continued “spill-over” into today’s session. Primary goal of CD1 is to establish a new secure cycle low from which to stage the next rally. Average Decline for CD1 measures 20416 which has been fulfilled as of this writing (8:00 pm EDT).
We’ll continue to remain true to our discipline in maintaining positioning that is aligned with market forces which continues to serve us well, so stay the course.
Earning Today 10/31/24 >>> AAPL, AMZN
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 20470, initially targets 20524– 20564 zone.
Bear Scenario: Price sustains an offer below 20470, initially targets 20386 – 20351 zone.
PVA High Edge = 20684 PVA Low Edge = 20564 Prior POC = 20651
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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