S&P 500
Prior Session was Cycle Day 1: Normal CD1 as the expected decline (90%) was fulfilled at 5814 with a final established low marked at 5811.50. This level will be used to measure this cycle’s performance through Cycle Day 3. Today’s session was essentially a consolidation of the previous rally to all-time highs. Prior range was 32 handles on 1.057M contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.10.24
Check out the link to learn more about the Taylor Cycle and secure your FREE TRIAL.
…Transition from Cycle Day 1 to Cycle Day 2
Transition into Cycle Day 2: Today we have the follow-up Producer Price Index (PPI) to round out this week’s activity. Price has notched a new all-time high and bulls would ideally like to close the week out at or above the current highs.
Key for today will be the 5810 – 5815 zone for support while 5840 – 5845 zone marked as resistance. Clearance and Conversion of either of these levels will determine whether bulls have a trend continuation higher or a decline lower back in to recent ranges.
Today is also CAPITAL PRESERVATION FRYDAY…Proceed accordingly.
Our discipline of maintaining positioning that is aligned with market forces 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 5840, initially targets 5855 – 5860 zone.
Bear Scenario: Price sustains an offer below 5815, initially targets 5800 – 5795 zone.
PVA High Edge = 5832 PVA Low Edge = 5820 Prior POC = 5831
ES Chart Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1: Normal CD1 as the expected decline (90%) was fulfilled at 20372 with a final established low marked at 20301.50. This level will be used to measure this cycle’s performance through Cycle Day 3. Today’s session was essentially a consolidation of the previous rally. Prior range was 206 handles on 443k contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.10.24
Check out the link to learn more about the Taylor Cycle and secure your FREE TRIAL.
…Transition from Cycle Day 1 to Cycle Day 2
Transition into Cycle Day 2: Today we have the follow-up Producer Price Index (PPI) to round out this week’s activity. Bulls would ideally like to close the week out at or above the current highs.
Key for today will be the 20300 for support while 20500 marked as resistance. Clearance and Conversion of either of these levels will determine whether bulls have a trend continuation higher or a decline lower back in to recent ranges.
Today is also CAPITAL PRESERVATION FRYDAY…Proceed accordingly.
Our discipline of maintaining positioning that is aligned with market forces 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 20415, initially targets 20513– 20557 zone.
Bear Scenario: Price sustains an offer below 20415, initially targets 20381 – 20357 zone.
PVA High Edge = 20469 PVA Low Edge = 20381 Prior POC = 20412
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