S&P 500
Prior Session was Cycle Day 3: Cycle “continuation rally’ went unchallenged throughout this session, fulfilling 6011 Statistical Excessive Goal. This cycle was certainly a “SUPER CYCLE” (SC), which is outlined as higher than (>) 150% of the common vary (87.93). This SC’s vary measured (278 pts) or 316.18%. Vary for at this time was 62 handles on 1.209M contracts exchanged.
For a extra detailed recap of the buying and selling session, click on on this hyperlink: Trading Room RECAP 11.7.24
Try the hyperlink to study extra in regards to the Taylor 3-Day Cycle and safe your FREE TRIAL.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Having closed close to excessive of the day, spill-over momentum might push value increased earlier than this cycle’s decline begins. We’ll be aware of a attainable “Whiplash” Commerce Setup ought to any rally extension fail to carry bid and reverse.
Upside extension ranges measure: 6015…6020…6025
Draw back retracement ranges measure: 5995…5985…5980
Threat of sharp pullback/decline is now elevated given impactful information occasions (Election…FOMC) at the moment are within the rearview mirror. Revenue-taking turns into an actual risk ought to the FOMO rally patrons resolve to step-back.
So with this in thoughts, our “game-play” will stay true to our self-discipline in sustaining positioning that’s aligned with market forces which continues to serve us nicely, so keep the course.
As such, situations to think about for at this time’s buying and selling.
Bull Situation: Value sustains a bid above 5995, initially targets 6015 – 6020 zone.
Bear Situation: Value sustains a proposal under 5995, initially targets 5985 – 5980 zone.
PVA Excessive Edge = 6008 PVA Low Edge = 5985 Prior POC = 5995
ES (Profile)
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3: Cycle “continuation rally’ went unchallenged throughout this session, operating over 1200 pts full cycle, eclipsing the common cycle rally of 444 pts and notching a brand new all-time excessive. Are you able to spell S-U-P-E-R C-Y-C-L-E Vary for at the present time was 391 handles on 455k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
Transition into Cycle Day 1: Having closed close to excessive of the day, spill-over momentum might push value increased earlier than this cycle’s decline begins. We’ll be aware of a attainable “Whiplash” Commerce Setup ought to any rally extension fail to carry bid and reverse.
Upside extension ranges measure: 21285…21318…21345
Draw back retracement ranges measure: 21188…21170…21129
Threat of sharp pullback/decline is now elevated given impactful information occasions (Election…FOMC) at the moment are within the rearview mirror. Revenue-taking turns into an actual risk ought to the FOMO rally patrons resolve to step-back.
So with this in thoughts, our “game-play” will stay true to our self-discipline in sustaining positioning that’s aligned with market forces which continues to serve us nicely, so keep the course.
As such, situations to think about for at this time’s buying and selling.
Bull Situation: Value sustains a bid above 21170, initially targets 21253– 21285 zone.
Bear Situation: Value sustains a proposal under 21170, initially targets 21130 – 21065 zone.
PVA Excessive Edge = 21249 PVA Low Edge = 21089 Prior POC = 21170
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 Determination Pivot Ranges. Proceed to concentrate on Bull/Bear Stackers and Premium/Reductions. As all the time, remaining in alignment with dominant intra-day power will increase possibilities of manufacturing successful trades.
Keep Targeted…Non-Biased…Disciplined ALWAYS USE STOPS!
Good Buying and selling…David
“Realizing just isn’t sufficient, We should APPLY. Keen just isn’t sufficient, We should DO.” –BR
*****This commerce technique report is disseminated for “schooling solely” and shouldn’t be seen in any approach as a suggestion 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 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 must be used to commerce. Buying and selling securities just isn’t appropriate for everybody.
Disclaimer: Futures, Choices, and Foreign money buying and selling all have massive potential rewards, however in addition they have massive potential danger. You need to concentrate on 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.
This web site is neither a solicitation nor a proposal to Purchase/Promote futures, choices, or currencies. No illustration is being made that any account will or is more likely to obtain income or losses just like these mentioned on this web page. The previous efficiency of any buying and selling system or methodology just isn’t essentially indicative of future outcomes.
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
