Trade Strategy 11.7.19

Markets

U.S. stock index futures turned sharply higher overnight, climbing 0.6%, as China’s Ministry of Commerce said the the world’s two largest economies had agreed to remove duties on each other’s goods in phases.

In Asia, Japan +0.1%. Hong Kong +0.6%. China flat. India +0.5%.
In Europe, at midday, London +0.2%. Paris +0.2%. Frankfurt +0.7%.
Futures at 6:20, Dow +0.6%. S&P +0.5%. Nasdaq +0.6%. Crude +1.2% to $57.03. Gold -0.6% to $1483.80. Bitcoin -1.7% to $9209.
Ten-year Treasury Yield +6 bps to 1.87%

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

Economic Calendar

8:30Initial Jobless Claims
10:30EIA Natural Gas Inventory
1:00 PMResults of $19B, 30-Year Note Auction
1:05 PMFed’s Kaplan Speech
3:00 PMConsumer Credit
4:30 PMMoney Supply
4:30 PMFed Balance Sheet

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 3040.50. Average Range for CD1 is 39.00 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 44%

***Note: China news has pushed price higher fulfilling initial ATR Cycle Range Objectives.

CD1 Range High = 3109.00       CD1 Range Low = 3054.00         CD1 Range Avg = 39.00

Scenario 1: IF Bulls hold bid above 3078, THEN initial upside targets 3087 – 3093 CD1 Penetration Zone. zone.

Scenario 2: IF Bears hold offer below 3078, THEN initial downside targets 3073 – 3068 ATR Range Low. Zone.

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

HOD  ATR Range Projection: 3090.00; LOD ATR Range Projection: 3073.00; 3 Day Central Pivot: 3074.00; 3 Day Cycle Target: 3118.50; 10 Day Average True Range 19.60; VIX: 12.60

Nasdaq 100 (NQ)

Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 8104.00.  Average Range for CD1 is 127.00 handles. Odds of decline > 20 handles = 75% Odds of decline > 25 = 67%

***Note: China news has pushed price higher fulfilling initial ATR Cycle Range Objectives.

CD1 Range High =8317.00           CD1 Range Low = 8137.00          CD1 Range Avg = 127.00

Scenario 1: IF Bulls hold bid above 8228, THEN initial upside targets 8250 – 8283 CD1 Penetration Zone.

Scenario 2: IF Bears hold offer below 8228, THEN initial downside targets 8194 – 8172 zone.

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

HOD  ATR Range Projection: 8259.00; LOD ATR Range Projection: 8194.00; 3 Day Central Pivot: 8208.00; 3 Day Cycle Target: 8346.50; 10 Day Average True Range: 69.50; 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