Trade Strategy 2.4.19

Markets

U.S. stock index futures held steady overnight with trading muted due to the closure of many Asian markets for the Lunar New Year. About 12% of the U.S. workforce is also expected to call in sick today following last night’s Super Bowl festivities. Wall Street ended mixed on Friday – as optimism from an unexpected surge in January U.S. job growth was offset by a weaker-than-expected outlook from Amazon (NASDAQ:AMZN). Investors now have their eyes set on Alphabet (GOOGGOOGL), which will report Q4 figures after the bell.

In Asia, Japan +0.5%. Hong Kong closed. China closed. India +0.3%. 
In Europe, at midday, London +0.4%. Paris -0.4%. Frankfurt -0.2%. 
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude +0.7% to $55.66. Gold -0.5% to $1315.40. Bitcoin -0.7% to $3405. 
Ten-year Treasury Yield flat at 2.7%

Source: Seeking Alpha

Economic Calendar

http://mam.econoday.com/

10:00 Factory Orders
12:30 PM TD Ameritrade IMX
7:30 PM Fed’s Mester: Monetary Policy and Economic Outlook

***PTG Trading Room Chat Log’s Link

S&P 500

Today is Cycle Day 2 (CD2)…Price action is benign in overnight trade and range to start the week. Key price edges are marked between 2595 – 2715. Next directional move would be anticipated on breakout from either of these levels. Neutral Bias to begin the week…Stay Focused.

CD1 Range High = 2722.00       CD1 Range Low = 2685.00         CD1 Range Avg = 24.00 

Scenario 1: IF price holds bid above 2705, THEN initial upside objective targets 2715.50 – 2718 STATX Zone.

Scenario 2: IF price holds offer below 2705, THEN initial downside objective targets 2695 – 2692.50 STATX Zone.

Range Projections and Key Levels (ES) March 2019 (H) Contract

HOD  ATR Range Projection: 2730.00; LOD ATR Range Projection: 2677.00; 3 Day Central Pivot: 2692.00; 3 Day Cycle Target: 2723.00; 10 Day Average True Range 32.00; VIX: 16.46

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Price action is benign in overnight trade and range to start the week. Key price edges are marked between 6860 – 6930. Next directional move would be anticipated on breakout from either of these levels. Neutral Bias to begin the week…Stay Focused.

CD1 Range High = 6914.00          CD1 Range Low = 6841.00          CD1 Range Avg = 56.00

Scenario 1: IF price holds bid above 6885, THEN initial upside objective targets 6923 – 6931 STATX Zone.

Scenario 2: IF price holds offer below 6885, THEN initial downside objective targets 6856 – 6848 STATX Zone.

Range Projections and Key Levels (NQ) March 2019 (H) Contract

HOD  ATR Range Projection: 6973.50; LOD ATR Range Projection: 6782.00; 3 Day Central Pivot: 6858.00; 3 Day Cycle Target: 6927.50; 10 Day Average True Range: 115.00; VIX: 16.64

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