Markets
The Dow closed at a new all-time high on Thursday as investors continued to embrace the Trump Trade, putting the index within striking distance of 19,000. But is the recent rally build to last? That’s the question traders are now asking. While shares were heavily mixed across the globe in overnight action, U.S. futures are now starting to fade.
In Asia, Japan +0.2% to 17374. Hong Kong -1.4% to 22531. China +0.8% to 3196. India -2.5% to 26818.
In Europe, at midday, London -0.9%. Paris -0.6%. Frankfurt +0.4%.
Futures at 6:20, Dow -0.4%. S&P -0.6%. Nasdaq -1.1%. Crude -1.5% to $43.99. Gold -0.9% to $1254.90.
Ten-year Treasury Yield +7 bps to 2.13%
(Source: Seeking Alpha)
Economic Calendar
10:00 Consumer Sentiment
11:00 Stanley Fischer
1:00 PM Baker-Hughes Rig Count
PTG Trading
Prior session’s Cycle Day 1 played out perfectly, as opening strength faded with a violation of prior high. Driven primarily by aggressive selling in FANG stocks in the NASDAQ market. Price hit 2055 handle range projection as buyers stepped-in and drove price back to near high of session. Can anyone spell WHIPLASH!
Today is Cycle Day 2 (CD2)…Normal would be for some “back n fill” trade within prior wide-range to find stability and balance. There is plenty of room for price to oscillate throughout the range, so stay disciplined and take only the very best trade setups.
Range Projections and Key Levels
HOD Range Projection: 2178.25; LOD Range Projection: 2143.50; Cycle Day 1 Low: 2147.75; 3 Day Central Pivot: 2138.50; 3 Day Cycle Target: 2166.50; 10 Day Average True Range: 26.95
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: December (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: Bulls will need to hold price above CD1 Low (2147.75) and force the auction back above 2166.50 Average 3 Day Cycle Target.
Scenario 2: Bears will try to force selling below CD1 Low (2147.75), targeting 2143.50 LOD Range Projection.
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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