U.S. stock index futures are pulling back slightly, edging down 0.2%, after Disney (NYSE:DIS) shares on Wednesday lifted the DJIA and S&P 500 to record closing highs. Talks between Washington and Beijing are thought to have hit a snag over agricultural purchases, while weak industrial output data was seen in China and Europe’s largest economy narrowly avoided a recession. Jerome Powell is also continuing his second day of testimony on Capitol Hill – before the House Budget Committee – after saying negative interest rates aren’t needed in the U.S. and monetary policy will remain in place unless there is a “material” change in the economic outlook.
In Asia, Japan -0.8%. Hong Kong -0.9%. China +0.2%. India +0.4%.
In Europe, at midday, London -0.4%. Paris +0.1%. Frankfurt -0.3%.
Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.2%. Crude +1.1% to $57.74. Gold +0.4% to $1469.10. Bitcoin -1.8% to $8586.
Ten-year Treasury Yield -3 bps to 1.84
(Source: Seeking Alpha) https://seekingalpha.com/
8:30Initial Jobless Claims
8:30Producer Price Index
9:10Fed’s Evans Speech
9:10Fed’s Clarida Speech
10:00Powell To Testify Before The House Budget Committee
10:30EIA Natural Gas Inventory
11:00EIA Petroleum Inventories
Today is Cycle Day 3 …Price is above this Cycle’s CD1 Low fulfilling Positive 3 Day Cycle Statistic. Bulls continue to dominate the “field-of-play” though prices have pulled back modestly from All-Time-High. Main trade theme continues to be Long-Side on pullbacks to key support levels. “Always have a proper entry trigger and risk management plan.”
As PTG Trade Strategy states: 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.
CD3 Range High = 3118.00 CD3 Range Low = 3070.00 CD3 Range Avg = 30.00
Scenario 1: IF Bulls hold bid above 3090, THEN initial upside targets 3100 – 3106 zone.
Scenario 2: IF Bears hold offer below 3090, THEN initial downside targets 3081 – 3075 zone.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price is above this Cycle’s CD1 Low fulfilling Positive 3 Day Cycle Statistic. Bulls continue to dominate the “field-of-play” and as trend direction traders, continue to lean to the long-side at key levels.
CD3 Range High = 8351.00 CD3 Range Low = 8178.00 CD3 Range Avg = 107.00
Scenario 1: IF Bulls hold bid above 8254, THEN initial upside potential targets 8282 – 8306 zone.
Scenario 2: IF Bears hold offer below 8254, THEN initial downside targets 8228 – 8214 zone.
Range Projections and Key Levels (NQ) December (Z) Contract
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!
“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