S&P 500
Prior Session was Cycle Day 2: Normal CD2 as price consolidated within DTS’ outlined parameters in the DTS Briefing 11.11.24. Range for today was 39 handles on 1.012M contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 11.11.24
Check out the link to learn more about the Taylor 3-Day Cycle and secure your FREE TRIAL.
…Transition from Cycle Day 2 to Cycle Day 3
Transition into Cycle Day 3: Positive Three-Day Cycle will be satisfied with price trading above CD1 Low (5990.25) during the RTH Session.
Value continues to migrate higher with higher highs and higher lows, so the bullish case remains in-tact. We continue to be mindful and alert of a possible pullback/decline, now elevated given impactful news events (Election…FOMC) are now in the rearview mirror. Profit-taking becomes a real possibility should the FOMO buyers decide to take a step back.
So with this in mind, our “game-play” will 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 6025, initially targets 6035 – 6040 zone.
Bear Scenario: Price sustains an offer below 6025, initially targets 6015 – 6010 zone.
PVA High Edge = 6039 PVA Low Edge = 6025 Prior POC = 6027
ES (Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2: Normal CD2 as price consolidated within DTS’ outlined parameters in the DTS Briefing 11.11.24. Range for today was 242 handles on 450k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
Transition into Cycle Day 3: Positive Three-Day Cycle will be satisfied with price trading above CD1 Low (21121.75) during the RTH Session.
NAZ is in more of a range bound phase as value is now “overlapping” with price now consolidating the recent all-time high milestone. Range boundaries are defined between 21160 – 21240 with expectation of continued absorption of recent gains.
So with this in mind, our “game-play” will 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 21200, initially targets 21275– 21300 zone.
Bear Scenario: Price sustains an offer below 21200, initially targets 21145 – 21100 zone.
PVA High Edge = 21258 PVA Low Edge = 21150 Prior POC = 21198
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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