S&P 500
Prior Session was Cycle Day 1: Price established an early low @ 5976.25 during GBX session, below prior low @ 5982.50. Bulls viewed this weakness to BTFD, establishing clear dominance, as price rallied into the RTH session, fulfilling the initial cycle target (6020) and closing on the highs of the day. Range for this session was 67 handles on 1.230M contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 11.26.24
…Transition from Cycle Day 1 to Cycle Day 2
Transition into Cycle Day 2: Having closed on the highs of the day, bullish momentum may extend price higher, though we would normally be looking for some consolidation for CD2.
Final full day of trading ahead of the Thanksgiving Holiday as bulls are gunning for a new All-Time High to “bring home the turkey!”
YOU KNOW THE DRILL! Stay Aligned!
Wash Rinse Repeat!
PTG’s Primary Directive (PD) is to ALWAYS STAY IN ALIGNMENT with the DOMINANT FORCE.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 6035, initially targets 6045 – 6050 zone.
Bear Scenario: Price sustains an offer below 6035, initially targets 6025 – 6020 zone.
PVA High Edge = 6035 PVA Low Edge = 6014 Prior POC = 6021
ES (Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Price established an early low @ 20755 during GBX session, below prior low @ 20780.25. Bulls viewed this weakness to BTFD, reclaiming the PL thereby establishing clear dominance, as price rallied into the RTH session, fulfilling the initial cycle target (20657) and closing on the highs of the day. Range for this session was 269 handles on 496k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
Transition into Cycle Day 2: Having closed on the highs of the day, bullish momentum may extend price higher, though we would normally be looking for some consolidation for CD2.
YOU KNOW THE DRILL! Stay Aligned!
Wash Rinse Repeat!
PTG’s Primary Directive (PD) is to ALWAYS STAY IN ALIGNMENT with the DOMINANT FORCE.
As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 20990, initially targets 21061– 21098 zone.
Bear Scenario: Price sustains an offer below 20990, initially targets 20930 – 20910 zone.
PVA High Edge = 20990 PVA Low Edge = 20927 Prior POC = 20960
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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