Trade Strategy 11.4.19

Markets

Equities rose across the globe overnight, with Hang Seng climbing 1.7% to lead gains in Asia, the Europe Stoxx 50 up by 1% and DJIA futures pointing to another 100-point advance at the open. A surprise jobs number on Friday saw American employers add 128K jobs in October – comfortably beating an estimate of 89K – adding to the upbeat market sentiment.

In Asia, Japan closed. Hong Kong +1.7%. China +0.6%. India +0.3%.
In Europe, at midday, London +1.1%. Paris +1.2%. Frankfurt +1.2%.
Futures at 6:20, Dow +0.5%. S&P +0.5%. Nasdaq +0.7%. Crude +1% to $56.77. Gold +0.1% to $1512.70. Bitcoin +0.7% to $9244.
Ten-year Treasury Yield +3 bps to 1.75%

Source: Seeking Alpha https://seekingalpha.com/

Economic Calendar

10:00Factory Orders
12:30 PMTD Ameritrade IMX
3:05 PMFed’s Daly Speech

https://www.investing.com/economic-calendar/

***New: PTG Trading Room Chat Log’s Link

S&P 500

Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 3024.25. Average Range for CD1 is 40.50 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 44%

CD1 Range High = 3105.50       CD1 Range Low = 3039.50         CD1 Range Avg = 40.50

Scenario 1: IF Bulls hold bid above 3065, THEN initial upside targets 3074.50 – 3079.75 CD1 Penetration Zone. zone.

Scenario 2: IF Bears hold offer below 3065, THEN initial downside targets 3056.50 – 3053 ATR Range Low. Zone.

Range Projections and Key Levels (ES) December 2019 (Z) Contract

HOD  ATR Range Projection: 3088.50; LOD ATR Range Projection: 3056.50; 3 Day Central Pivot: 3044.25; 3 Day Cycle Target: 3115.50; 10 Day Average True Range 23.69; VIX: 12.64

Nasdaq 100 (NQ)

Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 8034.50.  Average Range for CD1 is 132.25 handles. Odds of decline > 20 handles = 75% Odds of decline > 25 = 67%

CD1 Range High =8296.50           CD1 Range Low = 8086.00          CD1 Range Avg = 132.25

Scenario 1: IF Bulls hold bid above 8168, THEN initial upside targets 8189 – 8221.50 CD1 Penetration Zone.

Scenario 2: IF Bears hold offer below 8168, THEN initial downside targets 8136.50 – 8125.50 ATR Range Low Zone.

Range Projections and Key Levels (NQ) December 2019 (Z) Contract

HOD  ATR Range Projection: 8245.75; LOD ATR Range Projection: 8136.50; 3 Day Central Pivot: 8106.25; 3 Day Cycle Target: 8329.50; 10 Day Average True Range: 81.73; VIX: 12.64

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