Trade Strategy 3.11.19

Markets

U.S. stock futures are trading mixed ahead of the open. The Dow is flagging triple-digit declines as Boeing (BA) shares tumble, while the S&P 500 is flat and Nasdaq futures are up 0.3%. A mixed employment report on Friday also showed solid wage growth and a drop in unemployment, but the headline non-farm payroll figure fell way short of expectations at a measly 20,000 jobs.

Crude futures rose 1% to $56.63/bbl overnight, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June. OPEC+ has pledged to cut 1.2M bpd in crude supply since the start of the year to tighten markets and prop up prices.

In Asia, Japan +0.5%. Hong Kong +1%. China +1.9%. India +1%. 
In Europe, at midday, London +0.8%. Paris +0.3%. Frankfurt +0.3%. 
Futures at 6:20, Dow -0.7%. S&P flat. Nasdaq +0.3%. Crude +1% to $56.63. Gold -0.2% to $1296.40. Bitcoin -0.7% to $3864. 
Ten-year Treasury Yield -2 bps to 2.65%

(Source: Seeking Alpha)  

Economic Calendar

http://mam.econoday.com/

8:30Retail Sales
10:00Business Inventories
1:00 PMResults of $38B, 3-Year Note Auction

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

S&P 500

Today is Cycle Day 3 (CD3)…Price is marginally higher during overnight trade with upside rally targets ranging between 2764 – 2772.

CD3 Range High = 2764.00          CD3 Range Low = 2735.00          CD3 Range Avg = 23.50 

Scenario 1: IF Bulls holds bid above 2750, THEN initial upside target measures 2762 – 2765 zone.

Scenario 2: IF Bears holds offer below 2750, THEN initial downside target measures 2745 – 2740.00

Range Projections and Key Levels (ES) June (M) Contract

HOD  ATR Range Projection: 2766.50; LOD ATR Range Projection: 2733.50; Cycle Day 1 Low: 2743.75; 3 Day Central Pivot: 2763.00; 3 Day Cycle Target: 2771.50; 10 Day Average True Range 25.50; VIX: 16.30

Nasdaq 100 (NQ)

Today is Cycle Day 3 …Price is marginally higher during overnight trade with upside rally targets ranging between 7081 – 7100.

CD3 Range High = 7104.00         CD3 Range Low = 7002.50          CD3 Range Avg = 56.25

Scenario 1: IF Bulls holds bid above 7050, THEN initial upside potential targets 7081 – 7100 zone.

Scenario 2: IF Bears holds offer below 7050, THEN initial downside targets 7014 – 7003 zone.

Range Projections and Key Levels (NQ) June (M) Contract

HOD  ATR Range Projection: 7104.00; LOD ATR Range Projection: 7003.00; Cycle Day 1 Low: 7031.50; 3 Day Central Pivot: 7088.50; 3 Day Cycle Target: 7099.00; 10 Day Average True Range: 81.00; VIX: 16.30

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