Markets

Crude futures are on the rise for the first time in eight days, with U.S. oil pulling further away from the $30-level breached last session following data from the American Petroleum Institute. According to the industry group, oil inventories unexpectedly fell last week, sliding 3.9M barrels to 480M. Also on tap: The EIA publishes its weekly inventories data at 10:30 a.m. ET. Brent +2.5% to $31.63/bbl; WTI +2.4% to $31.17/bbl.

In Asia, Japan +2.9% to 17716. Hong Kong +1.1% to 19935. China -2.4% to 2950. India +0.7% to 24854.
In Europe, at midday, London +1%. Paris +1.3%. Frankfurt +0.8%.
Futures at 6:20, Dow +0.6%. S&P +0.6%. Nasdaq +0.7%. Crude +2.4% to $31.17. Gold -0.3% to $1081.80.
Ten-year Treasury Yield +3 bps to 2.13%

(Source: Seeking Alpha)

Today’s Economic Calendar

7:00 MBA Mortgage Applications
10:00 Atlanta Fed’s Business Inflation Expectations
10:30 EIA Petroleum Inventories
1:00 PM Results of $21B, 10-Year Note Auction
1:00 PM Fed’s Evans speech
2:00 PM Fed’s Beige Book
2:00 PM Treasury Budget

(Source: Seeking Alpha)

PTG Trading

S&P e-mini successfully hammered out a low testing early Tuesday’s point break at 1908.50. Break above 1920 SPOT catapulted price higher into settlement snapping a multi-day losing streak. In overnight trade price has pushed higher to hit 1946.00 STATX Zone Level.

Today is Cycle Day 2 (CD2)…NEUTRAL SPILL…Price has risen approximately 50 handles off low…Some consolidation and absorption of recent gains are anticipated. Volatility remains elevated with 3 Day ATR of 38.00 handles. Bulls will need to hold any sell attempt above 1920 3 Day Pivot to keep current rally intact.

Key Levels: STATX Zone – 1941.25 – 1946.00; CD2 Penetration Level = 1948.50; 3 Day Cycle Target = 1958.75; HOD Range Projection = 1960.50: 3D CPZ = 1922.50 – 1918.00; LOD Range Projection = 1908.50

**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.

Today’s Hypotheses: March 2016 (H) Contract

*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.

Scenario 1: IF price holds above PH (1940.25), THEN initial upside objective is 1946 STATX Level…Strength above this level targets 1958.75 – 1960.50.

Scenario 2: Failure to convert PH (1940.25) suggests a pullback to absorb recent gains…Levels to be mindful of for renewed buy response are 1928.00 SPOT, followed by 3D CPZ 1922.50 – 1918.00.

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.” –Bruce Lee

*****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

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