Trade Strategy 4.10.19

Markets 

Wall Street is looking to shake off yesterday’s losses, with Dow futures up 42 points ahead of the open and the S&P 500 and Nasdaq up 0.2%. The Fed this afternoon is set to release minutes from its latest meeting, when it left interest rates unchanged and abandoned all plans for future hikes this year.

In Asia, Japan -0.5%. Hong Kong -0.1%. China +0.1%. India -0.9%. 
In Europe, at midday, London +0.1%. Paris +0.4%. Frankfurt +0.4%. 
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude +0.7% to $64.44. Gold -0.1%to $1307.70. Bitcoin +0.7% to $5229. 
Ten-year Treasury Yield flat at 2.5%

Source: Seeking Alpha

http://mam.econoday.com/

7:00MBA Mortgage Applications
8:30Consumer Price Index
10:00Atlanta Fed’s Business Inflation Expectations
10:30EIA Petroleum Inventories
11:50Randal Quarles: “Progress on the transition to risk-free rates”
1:00 PMResults of $24B, 10-Year Note Auction
2:00 PMFOMC minutes
2:00 PMTreasury Budget
7:00 PMFed’s Kaplan Speech

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

S&P 500

Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2873.50. Average Range for CD1 is 24.50 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 43%

CD1 Range High = 2902.00       CD1 Range Low = 2866.00         CD1 Range Avg = 24.50

Scenario 1: IF Bulls hold bid above 2882.25, THEN initial upside targets 2890 – 2892 3 Day Central Pivot Zone.

Scenario 2: IF Bears hold offer below 2882.25, THEN initial downside targets 2876.50 – 2873.50 Average Violation Decline Zone.

Range Projections and Key Levels (ES) June 2019 (M) Contract

HOD  ATR Range Projection: 2899.00; LOD ATR Range Projection: 2870.00; 3 Day Central Pivot: 2891.00 3 Day Cycle Target: 2906.00; 10 Day Average True Range 21.00; VIX: 14.00

Nasdaq 100 (NQ)

Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7539.00. Average Range for CD1 is 79.00 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 65%

CD1 Range High =7630.75           CD1 Range Low = 7557.50          CD1 Range Avg = 79.00

Scenario 1: IF Bulls hold bid above 7588.75, THEN initial upside targets 7605 – 7613 zone.

Scenario 2: IF Bears hold offer below 7588.75, THEN initial downside targets 7567 – 7557.50 Violation Range Zone.

Range Projections and Key Levels (NQ) June 2019 (M) Contract

HOD  ATR Range Projection: 7646.50; LOD ATR Range Projection: 7542.00; 3 Day Central Pivot: 7600.00; 3 Day Cycle Target: 7644.00; 10 Day Average True Range: 71.00; VIX: 14.00

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.

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