Trade Strategy 1.8.19

Markets
 
U.S. futures appear to be looking at the glass half full again as the world’s two largest economies conclude talks to resolve their ongoing trade dispute. U.S. Commerce Secretary Wilbur Ross has predicted Beijing and Washington could reach a trade deal that “we can live with,” while China’s foreign ministry said it had “good faith” to work with the U.S. Ten-year U.S. Treasury yields have recovered on the news, with crude and the dollar also posting gains
 
In Asia, Japan +0.8%. Hong Kong +0.2%. China -0.3%. India +0.4%
In Europe, at midday, London +1.1%. Paris +1.4%. Frankfurt +0.8%
Futures at 6:20, Dow +0.7%. S&P +0.7%. Nasdaq +0.7%. Crude +1.7% to $49.33. Gold -0.5%to $1284. Bitcoin +0.3% to $4030. 
Ten-year Treasury Yield +2 bps to 2.7%
 
(Source: Seeking Alpha)
 
Economic Calendar

http://mam.econoday.com/

6:00 NFIB Small Business Optimism Index
8:30 International Trade
8:55 Redbook Chain Store Sales
10:00 Job Openings and Labor Turnover Survey
1:00 PM Results of $38B, 3-Year Note Auction
3:00 PM Consumer Credit

***New: PTG Trading Room Chat Log’s Link Click this link to view:
 

S&P 500

Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2501.25. Average Range for CD1 is 61.00 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 42%

CD1 Range High = 2573.00       CD1 Range Low = 2548.00         CD1 Range Avg = 61.00 

Scenario 1: IF price holds bid above 2558, THEN initial upside potential targets 2573 – 2577 CD1 Penetration Range High.

Scenario 2: IF price holds offer below 2558, THEN initial downside potential targets 2548 – 2545 Central Pivot Zone.

Range Projections and Key Levels (ES) March 2019 (H) Contract

HOD  ATR Range Projection: 2615.00; LOD ATR Range Projection: 2506.00; 3 Day Central Pivot: 2505.00; 3 Day Cycle Target: 2610.00; 10 Day Average True Range 66.00; VIX: 20.62

Click Here

Nasdaq 100 (NQ)

Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 6322.00. Average Range for CD1 is 193.00 handles. Odds of decline > 20 handles = 73% Odds of decline > 25 = 64%

CD1 Range High = 6545.00          CD1 Range Low = 6503.00          CD1 Range Avg = 193.00

Scenario 1: IF price holds bid above 6515, THEN initial upside potential targets 6545 – 6555 CD1 Penetration Range High.

Scenario 2: IF price holds offer below 6515, THEN initial downside potential targets 6493 – 6481 Central Pivot Zone.

Range Projections and Key Levels (NQ) March 2019 (H) Contract

HOD  ATR Range Projection: 6696.00; LOD ATR Range Projection: 6353.00; 3 Day Central Pivot: 6344.00; 3 Day Cycle Target: 6690.00; 10 Day Average True Range: 205.00; VIX: 20.62

Click Here

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.

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