In Europe, at midday, London +0.4%. Paris flat. Frankfurt -0.1%.
Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.2%. Crude +0.3% to $56.82. Gold -0.1% to $1222.20. Bitcoin -5% to $5258.
Ten-year Treasury Yield +1 bps to 3.08%
9:40 Fed’s Williams Speech
10:00 NAHB Housing Market Index
10:00 E-Commerce Retail Sales
10:45 Fed’s Williams Speech
3:15 PM Fed’s Williams Speech
PTG Trading Room Chat Log’s Link Click this link to view:
S&P 500
Today is Cycle Day 3 (CD3)…Price begins the new week trading in the middle of 5-day distribution. Volatility remains elevated as “news algos” and buy/sell programs were working overtime last week. This week is shortened holiday week with Brexit negotiations continuing, so more “news-bomb” potential exists. Manage risk and trade the highest quality setups.
CD3 Range High = 2752.00 CD3 Range Low = 2707.00 CD3 Range Avg = 38.50
Scenario 1: IF price holds bid above 2730, THEN upside targets 2745 – 50 zone.
Scenario 2: IF price holds offer below 2730, THEN downside targets 2720 – 2715 3 Day Central Pivot Zone.
Range Projections and Key Levels (ES) December (Z) Contract
HOD ATR Range Projection: 2777.50; LOD ATR Range Projection: 2700.00; Cycle Day 1 Low: 2671.25; 3 Day Central Pivot: 2720.00; 3 Day Cycle Target: 2706.00; 10 Day Average True Range 48.50; VIX: 19.00
Nasdaq 100 (NQ)
Today is Cycle Day 3 …Price begins the new week trading in the middle of 5-day distribution. Volatility remains elevated as “news algos” and buy/sell programs were working overtime last week. This week is shortened holiday week with Brexit negotiations continuing, so more “news-bomb” potential exists. Manage risk and trade the highest quality setups.
CD3 Range High = 6908.00 CD3 Range Low = 6780.00 CD3 Range Avg = 153.50
Scenario 1: IF price holds bid above 6870, THEN upside targets 6900 — 6915 zone.
Scenario 2: IF price holds offer below 6870, THEN downside targets 6850 – 6838 3 Day Central Pivot Zone.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 7020.50; LOD ATR Range Projection: 6767.00; Cycle Day 1 Low: 6712.25; 3 Day Central Pivot: 6844.00; 3 Day Cycle Target: 6850.00; 10 Day Average True Range: 166.75; VIX: 19.00
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.
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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