S&P 500
Prior Session was Cycle Day 3: Constructive 3-Day Cycle, which implies that Value is Larger Than Cycle Day 1 Low on Cycle Day 3 through the RTH Session. To precise this in mathematical code: (P > CD1 Low on CD3 ~ RTH). This cycle fulfilled this definition and has a 92.86% statistic of accomplishment, overlaying 15 years of monitoring.
Sturdy as this statistic is, this cycle ending solely reached 26.55% of the focused vary for the whole cycle. This studying is certainly weak and a potential “early-warning” that sentiment could also be in its early levels of fixing.
We might want to monitor carefully for subsequent few cycles for a clearer read-through. For now, simply remember that the upside momentum has for essentially the most half weakened, probably signaling decrease classes forward. Prior vary was 43 handles on 994k contracts exchanged.
For a extra detailed recap of the buying and selling session, click on on this hyperlink: Trading Room RECAP 10.22.24
Take a look at the hyperlink to study extra concerning the Taylor Cycle and safe your FREE TRIAL.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: At present begins a brand new cycle with the target of in search of a brand new safe low from which to stage the following rally.
Markets are nonetheless in rangebound-mode with decrease probes being extra pronounced, but no breakdown. Prior session noticed a worth shift decrease, which helps the weak cycle efficiency, together with probing the decrease fringe of the multi-day composite vary. Till there’s a definitive directional transfer, expectation is for extra of the identical rhythms.
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 in the present day’s buying and selling.
Bull State of affairs: Value sustains a bid above 5880, initially targets 5895 – 5900 zone.
Bear State of affairs: Value sustains a proposal beneath 5880, initially targets 5865 – 5860 zone.
PVA Excessive Edge = 5890 PVA Low Edge = 5865 Prior POC = 5880
ES (Chart Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Constructive 3-Day Cycle statistic was glad as worth traded above it’s CD1 Low (20320), swinging between the decrease 20370 vary edge and the higher 20600 vary edge, however made zero directional progress. Prior vary was 242 handles on 465k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: At present begins a brand new cycle with the target of in search of a brand new safe low from which to stage the following rally.
Present rangebound situations are usually not providing merchants any clue as to the following breakout. Till there’s a definitive directional transfer, expectation is for extra of the identical rhythms between these latest ranges.
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 in the present day’s buying and selling.
Bull State of affairs: Value sustains a bid above 20475, initially targets 20550– 20580 zone.
Bear State of affairs: Value sustains a proposal beneath 20475, initially targets 20420 – 20370 zone.
PVA Excessive Edge = 20548 PVA Low Edge = 20430 Prior POC = 20493
NQ Chart (Profile)
Financial Calendar
Commerce Technique: Our tactical commerce technique will merely stay unaltered…We’ll be versatile to commerce each lengthy and quick facet from Choice Pivot Ranges. Proceed to give attention to Bull/Bear Stackers and Premium/Reductions. As at all times, remaining in alignment with dominant intra-day drive will increase possibilities of manufacturing profitable trades.
Keep Centered…Non-Biased…Disciplined ALWAYS USE STOPS!
Good Buying and selling…David
“Realizing just isn’t sufficient, We should APPLY. Prepared just isn’t sufficient, We should DO.” –BR
*****This commerce technique report is disseminated for “schooling solely” and shouldn’t be considered in any approach 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 earnings. Previous efficiency just isn’t 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 just isn’t appropriate for everybody.
Disclaimer: Futures, Choices, and Forex buying and selling all have giant potential rewards, however additionally they have giant potential danger. It’s essential to pay attention to the dangers and be prepared to just accept them as a way to spend money on these markets. Don’t commerce with cash you’ll be able to’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
