S&P 500
Prior Session was Cycle Day 2: This session was historic, notching a new All-Time High on the heals of the 2024 Presidential Election win for America. Notable is another monster Three-Day “Super Cycle” rising over 259%, with amazing returns on the CD1 Long Call Option play. Range was 152 handles on 1.900M contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 11.6.24
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: Next on deck for today’s session is the FOMC meeting, a 25-basis-point rate cut is anticipated, which would reduce the federal funds rate to the 4.50%-4.75% range.
This is expected due to softening inflation and a cooling labor market. Recent data supports these adjustments, as inflation has shown signs of returning closer to the Fed’s 2% target, and growth in core inflation measures has slowed considerably. The Fed is also expected to maintain a data-dependent approach for future decisions, monitoring economic indicators closely before deciding on further rate changes at the December meeting or in early 2025.
As with every FED DAY, market reaction can be a “wild-card”, fast, furious and down-right frustrating. 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 5935, initially targets 5975 – 5980 zone.
Bear Scenario: Price sustains an offer below 5935, initially targets 5910 – 5900 zone.
PVA High Edge = 5956 PVA Low Edge = 5911 Prior POC = 5935
ES (Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2: This session was historic, notching a new All-Time High on the heals of the 2024 Presidential Election win for America. Range was 611 handles on 687k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
Transition into Cycle Day 3: Next on deck for today’s session is the FOMC meeting, a 25-basis-point rate cut is anticipated, which would reduce the federal funds rate to the 4.50%-4.75% range.
As with every FED DAY, market reaction can be a “wild-card”, fast, furious and down-right frustrating. 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 20795, initially targets 20935– 21018 zone.
Bear Scenario: Price sustains an offer below 20795, initially targets 20642 – 20630 zone.
PVA High Edge = 20882 PVA Low Edge = 20642 Prior POC = 20795
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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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