Markets
China’s GDP growth remained at 6.7% on year in Q3, as expected, boosted by yet more government spending, record bank lending and an over-heating property market, all of which are adding to the massive debt in the country. “Economic activity seems to be holding up reasonably well,” said economist Julian Evans-Pritchard. “Nonetheless, the recent recovery is ultimately on borrowed time given that it has been driven in large part by faster credit growth and a property market boom, both of which policy makers are now working to rein in.”
In Asia, Japan +0.2% to 16999. Hong Kong +0.6% to 23260. China -0.1% to 9748. India -0.2% to 27984.
In Europe, at midday, London -0.1%. Paris -0.1%. Frankfurt -0.2%.
Futures at 6:20, Dow flat. S&P -0.05%. Nasdaq -0.2%. Crude +1.45% to $51.02. Gold +0.7% to $1271.25.
Ten-year Treasury Yield -1 bps to 1.74%.
(Source: Seeking Alpha)
Economic Calendar
7:00 MBA Mortgage Applications
8:30 Housing Starts
10:00 Atlanta Fed’s Business Inflation Expectations
10:30 EIA Petroleum Inventories
2:00 PM Fed’s Beige Book
PTG Trading
Today is Cycle Day 3 (CD3)…20 Cycle Average Target’s have already been achieved as price reached the 2136 – 2138 zone in fine fashion during prior session. Bulls have “ball control” above the 3 Day Central Pivot (2128.00)…There remains potential energy to exceed prior high (2139.75) and power up to 2145.50 HOD Range Projection.
Range Projections and Key Levels
HOD Range Projection: 2145.50; LOD Range Projection: 2116.50; Cycle Day 1 Low: 2116.75; 3 Day Central Pivot: 2128.00; 3 Day Cycle Target: 2138.00; 10 Day Average True Range: 18.13
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: September (Z) 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 at or above 2128, THEN initial objective will be to clear and convert PH (2139.75) to upper support. Upside targets should this occur are: 2142.75 – 2145.50 confluence zone.
Scenario 2: IF price violate and converts 2128 handle, THEN open trap door down to 2121 – 219.75 STATX Zone, with deep extreme measuring 2116 handle.
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