Markets
The U.S. economy is “doing quite well” and faces no serious obstacles in the short term, with the labor market looking strong, Fed Chair Janet Yellen said in a town hall meeting with educators. But she still fears longer-term issues like widening income inequality, weak growth in labor productivity and a rollback of Dodd-Frank regulatory changes.
In Asia, Japan +0.8%. Hong Kong +0.5%. China -0.2%. India flat.
In Europe, at midday, London +0.3%. Paris +0.8%. Frankfurt +0.6%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude -1% to $52.48. Gold -0.2% to $1197.70.
Ten-year Treasury Yield flat at 2.35%
(Source: Seeking Alpha)
Economic Calendar
8:30 Retail Sales
9:30 Fed’s Harker Speech
10:00 Business Inventories
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
PTG Trading
S&P e-mini (ES) pushed lower to reach 2250 projected low target outlined in Scenario 2 in Prior DTS Briefing Report 1.12.17. “Bears need solid conversion below 2260 – 2258 zone to force weak longs to liquidate, targeting 2254 – 2250 zone.”
Today is Cycle Day 3 (CD3)…In overnight trade price has snapped back off deep lows and rallied back to 2265 handle, which is 5 Day Point of Control. Positive 3 Day Rally is now in-place, so could end up being a confused trade session.
Range Projections and Key Levels
HOD ATR Range Projection: 2280.38; LOD ATR Range Projection: 2251.63; Cycle Day 1 Low: 2255.00; 3 Day Central Pivot: 2264.25; 3 Day Cycle Target: 2278.31; 10 Day Average True Range: 16.13
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: March 2017 (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: Bulls will need to hold 2258 – 60 zone as support and force a push above 2268 – 70 zone to get shorts concerned.
Scenario 2: Violation and conversion back below 2258 – 60 zone places additional pressure on longs to liquidate.
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
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. Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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