S&P 500
Prior Session was Cycle Day 3: Positive 3-Day Cycle (92.21%) as price traded above the CD1 Low on CD3 and fulfilled initial target 5947 (78.59%) marking the weekly cycle high at 5947.50. How is that for accuracy! Range for this session was 62 handles on 1.225M contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 11.20.24
YUMI SAKURA X-FEED
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: The Average Decline 5880 was fulfilled during CD3 on the early morning weakness. BTFD bulls responded timely absorbing the weak sellers, driving price higher and consolidation gains through the remainder of the session.
Post NVDA earnings after hours dip buyers remain active, buying the weakness at now key support 5915.
Bulls will be gunning to extend this rally above the 5945 – 5950 zone.
Bears will need to convert 5915 lower and press for 5885 (prior CD1 Low).
Battle Lines are drawn….
So with this in mind, our “game-play” will remain true to our discipline in maintaining positioning that is aligned with market forces which continue to serve us well, so stay the course.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 5915, initially targets 5955 – 5960 zone.
Bear Scenario: Price sustains an offer below 5915, initially targets 5895 – 5885 zone.
PVA High Edge = 5927 PVA Low Edge = 5885 Prior POC = 5900
ES (Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Positive 3-Day Cycle as price traded above the CD1 Low on CD3. Range for this session was 366 handles on 610k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1:The Average Decline was fulfilled during CD3 on the early morning weakness. BTFD bulls responded timely absorbing the weak sellers, driving price higher and consolidation gains through the remainder of the session.
Post NVDA earnings after hours dip buyers remain active, buying the weakness at now key support 20615.
Bulls will be gunning to extend this rally above the 20775 – 20795 zone.
Bears will need to convert 20615 lower and press for 20475 (prior CD1 Low).
Battle Lines are drawn….
So with this in mind, our “game-play” will remain true to our discipline in maintaining positioning that is aligned with market forces which continue to serve us well, so stay the course.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 20615, initially targets 20735– 20775 zone.
Bear Scenario: Price sustains an offer below 20615, initially targets 20545 – 20495 zone.
PVA High Edge = 20735 PVA Low Edge = 20548 Prior POC = 21615
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