Trade Strategy 10.5.17

Markets
 
In Asia, Japan +0.01%. Hong Kong closed. China closed. India -0.25%
In Europe, at midday, London +0.17%. Paris -0.07%. Frankfurt -0.23%
Futures at 6:20, Dow flat. S&P falt. Nasdaq +0.05%. Crude +0.24% to $50.10. Gold +0.27%to $1,280.20. 
Ten-year Treasury Yield -7 bps to 2.325%
 
(Source: Seeking Alpha)

Economic Calendar 

7:30 Challenger Job-Cut Report
8:30 Initial Jobless Claims
8:30 International Trade
9:10 Fed’s Powell speech
9:30 Fed’s Harker Speech
9:45 Bloomberg Consumer Comfort Index
10:00 Factory Orders
10:30 EIA Natural Gas Inventory
4:30 Money Supply
4:30 Fed Balance Sheet
9:00 Fed’s George speech

PTG Trading

Today is Cycle Day 2 (CD2)…Below average decline on CD1 with subsequent solid hold of opening range set up continuation rally which produced another all-time high in S&P futures.

First sign of any weakness that we’ll be on look-out for will be a reversal and close below a prior session low. Until this occurs deference is to buy pullbacks to structural support zones.

STAY NIMBLE and ALWAYS USE PROTECTIVE STOPS.

Range Projections and Key Levels

HOD  ATR Range Projection: 2544.82; LOD ATR Range Projection: 2527.18; Cycle Day 1 Low: 2529.00; 3 Day Central Pivot: 2529.75; 3 Day Cycle Target: 2554.50; 10 Day Average True Range: 10.32; VIX: 9.46

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

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Today’s Hypotheses: December 2017 (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 clears and converts 2538, THEN expansion levels targets 2542 – 44 zone, followed by 2547.50.

Scenario 2:  IF price violates and converts 2530 to lower resistance, THEN downside initiall targets 2527, followed by 2524 – 22 zone.

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