S&P 500
Prior Session was Cycle Day 3: Three Day Cycle goals had been achieved, as worth gapped increased fulfilling the 5910 goal per the DTS Briefing 10.17.24. The rest of the session worth consolidated between the 5895 Line in the Sand (LIS) and the 5910 briefing target. Prior range was 56 handles on 1.163M contracts exchanged.
For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.17.24
Check out the link to learn more about the Taylor Cycle and secure your FREE TRIAL.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Today begins a new cycle with the average decline measuring 5835.50. Price closed near the low of the session and at a critical Gamma Level (5886). Today is Options Expirations which will be influential for this session’s rhythms.
Bulls will be looking to maintain bid above 5885 and build on this to reclaim 5910 – 5915 zone.
Bears need to orchestrate another “bear-raid” below the 5885 to push the prior low 5771 and force long liquidation. Between these levels price can continue consolidating, building energy for the next directional move.
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 5885, initially targets 5910 – 5915 zone.
Bear Scenario: Price sustains an offer below 5885, initially targets 5870 – 5865 zone.
PVA High Edge = 5906 PVA Low Edge = 5886 Prior POC = 5888
ES (Chart Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Three Day Cycle objectives were achieved, as price gapped higher repairing the single prints back to 20595. Bulls failed to sustain the bid and as such price retreated lower consolidating between 20380 – 20480. Notable is the 20350 – 20380 zone which was DTS Briefing’s upper zone edge that converted to support on the back test. Prior range was 318 handles on 525k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Today begins a new cycle with the average decline measuring 20149. Price closed near the low of the session and the 5-day POC (20360). Today is Options Expirations which will be influential for this session’s rhythms.
Bulls will be looking to maintain bid above 20370 and build on this to reclaim 20490 – 20530 zone. Bears will of course seeking to apply pressure below targeting 20275 – 20250 zone.
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 20370, initially targets 20490– 20530 zone.
Bear Scenario: Price sustains an offer below 20370, initially targets 20275 – 20250 zone.
PVA High Edge = 20481 PVA Low Edge = 20371 Prior POC = 20405
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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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
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