S&P 500
Prior Session was Cycle Day 1: Normal CD1 as price declined establishing a new cycle low @ 5991.75. Price activity held within prior day’s range forming an “inside-consolidation day.” Range for today was 43 handles on 1.360M contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 11.13.24
Check out the link to learn more about the Taylor 3-Day Cycle and secure your FREE TRIAL.
…Transition from Cycle Day 1 to Cycle Day 2
Transition into Cycle Day 2: Price has now established a 5-day consolidation trading range (70 pts) between 5975 – 6045 and a well-defined Value Area between 6005 – 6035. POC 6025
These respective edges will form key references for the next expansionary phase, once the current contraction/consolidation phase ends. Until then we’ll continue to remain flexible trading the ongoing range rhythms.
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 6020, initially targets 6035 – 6040 zone.
Bear Scenario: Price sustains an offer below 6020, initially targets 6010 – 6005 zone.
PVA High Edge = 6039 PVA Low Edge = 6025 Prior POC = 6027
ES (Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Normal CD1 as price declined establishing a new cycle low @ 21056.50. Price activity continued with a “wide-range” consolidation day, affirming the now week-long balancing rhythms. Range for today was 212 handles on 524k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
Transition into Cycle Day 2: Price has now established a 5-day consolidation trading range (293 pts) between 21000 – 21293 and a well-defined Value Area between 21154 – 21235. POC = 21193
These respective edges will form key references for the next expansionary phase, once the current contraction/consolidation phase ends. Until then we’ll continue to remain flexible trading the ongoing range rhythms.
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 21180, initially targets 21235– 21265 zone.
Bear Scenario: Price sustains an offer below 21180, initially targets 21100 – 21055 zone.
PVA High Edge = 21197 PVA Low Edge = 21107 Prior POC = 21157
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