S&P 500
Prior Session was Cycle Day 2: Typical CD2 as MATD – *Morning/Market After Development Day” consolidation rhythms dominated the morning session, with value efficiently retesting prior low zone. Notable was the reclaim of 5870, which result in a day rally fulfilling the 5890 Cycle Day 2 (CD2) vary goal. Prior vary was 39 handles on 887k contracts exchanged.
For a extra detailed recap of the buying and selling session, click on on this hyperlink: Trading Room RECAP 10.16.24
Try the hyperlink to be taught extra in regards to the Taylor Cycle and safe your FREE TRIAL.
…Transition from Cycle Day 2 to Cycle Day 3
Transition into Cycle Day 3: The “relief-rally” which we famous in prior briefing for yesterday’s session unfolded, fulfilling the 5890 CD2 vary goal.
Bulls shall be trying to construct on this session’s momentum by clearing and changing 5895, probably forcing a “short-squeeze.”
Bears must orchestrate one other “bear-raid” under the 5850 CD1 Low to drive lengthy liquidation. Between these ranges value can proceed consolidating, constructing vitality for the subsequent directional transfer.
Our self-discipline of sustaining positioning that’s aligned with market forces continues to serve us nicely, so keep the course.
As such, eventualities to think about for at the moment’s buying and selling.
Bull Situation: Value sustains a bid above 5895, initially targets 5905 – 5910 zone.
Bear Situation: Value sustains a suggestion under 5870, initially targets 5855 – 5850 zone.
PVA Excessive Edge = 5892 PVA Low Edge = 5865 Prior POC = 5886
ES (Chart Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 2: Typical CD2 as MATD-*Morning/Market After Development Day” consolidation rhythms dominated the morning session with value promoting under prior low, earlier than regaining its composure and stabilizing. Notable reclaim of the open vary, which we highlighted within the reside buying and selling room, aided the afternoon reduction rally, which stalled simply earlier than reaching the 20400 goal. HOD = 20398.50. Prior vary was 192 handles on 411k contracts exchanged.
Try the hyperlink to be taught extra in regards to the Taylor Cycle and safe your FREE TRIAL.
…Transition from Cycle Day 2 to Cycle Day 3
Transition into Cycle Day 3: The preliminary 3-Day Cycle goal (20406.50) stays an open degree to probably be fulfilled and exceeded in at the moment’s session. Tech shares are underneath stress recently, which can proceed to be an element for the general market’s skill to rally. Fulfilling this cycle’s goal goal shall be an vital take a look at to tech’s energy and fortitude.
Our self-discipline of sustaining positioning that’s aligned with market forces continues to serve us nicely, so keep the course.
As such, eventualities to think about for at the moment’s buying and selling.
Bull Situation: Value sustains a bid above 20300, initially targets 20350– 20380 zone.
Bear Situation: Value sustains a suggestion under 20300, initially targets 20250 – 20205 zone.
PVA Excessive Edge = 20368 PVA Low Edge = 20275 Prior POC = 20300
NQ Chart (Profile)
Financial Calendar
Commerce Technique: Our tactical commerce technique will merely stay unaltered…We’ll be versatile to commerce each lengthy and brief aspect from Resolution Pivot Ranges. Proceed to concentrate on Bull/Bear Stackers and Premium/Reductions. As all the time, remaining in alignment with dominant intra-day drive will increase chances of manufacturing profitable trades.
Keep Centered…Non-Biased…Disciplined ALWAYS USE STOPS!
Good Buying and selling…David
“Realizing will not be sufficient, We should APPLY. Prepared will not be sufficient, We should DO.” –BR
*****This commerce technique report is disseminated for “training solely” and shouldn’t be seen in any manner as a advice to purchase or promote futures merchandise.”
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
IMPORTANT NOTICE! No illustration is being made that the usage of this technique or any system or buying and selling methodology will generate income. Previous efficiency will not be essentially indicative of future outcomes. There may be substantial danger of loss related to buying and selling securities and choices on equities. Solely danger capital ought to be used to commerce. Buying and selling securities will not be appropriate for everybody.
Disclaimer: Futures, Choices, and Foreign money buying and selling all have giant potential rewards, however in addition they have giant potential danger. You should pay attention to the dangers and be keen to just accept them with the intention to put money into these markets. Don’t commerce with cash you may’t afford to lose.
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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
