Trade Strategy 4.12.19

Markets

Earnings season kicks off in earnest today, with major U.S. banks – JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC) and PNC Financial (NYSE:PNC) – set to get the ball rolling before the opening bell. Dow futures are up 175 points ahead of the Q1 reports, with the S&P 500 and Nasdaq 0.5% higher.

In Asia, Japan +0.7%. Hong Kong +0.2%. China flat. India +0.4%. 
In Europe, at midday, London +0.3%. Paris +0.3%. Frankfurt +0.5%. 
Futures at 6:20, Dow +0.7%. S&P +0.5%. Nasdaq +0.5%. Crude +1.5% to $64.53. Gold +0.3%to $1297.10. Bitcoin -0.2% to $5069. 
Ten-year Treasury Yield +4 bps to 2.54%

(Source: Seeking Alpha)  

Economic Calendar

http://mam.econoday.com/

8:30Import/Export Prices
10:00Consumer Sentiment
1:00 PMBaker-Hughes Rig Count

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

S&P 500

Today is Cycle Day 3 …Price has achieved upside cycle objective 2908.50 as outlined in prior DTS Briefing 4.11.19: “Next objective is for bulls to convert 2900 Roundie to solid upper support to continue the current cycle rally targeting 2908.50.”

CD3 Range High = 2914.50          CD3 Range Low = 2878.00          CD3 Range Avg = 30.50

Scenario 1: IF Bulls hold bid above 2900, THEN initial upside target measures 2906 – 2908.50 zone. Next higher target measures 2911.50 – 2914.50 zone.

Scenario 2: IF Bears hold offer below 2900, THEN initial downside target measures 2892.25 – 2889.50 3 Day Central Pivot Zone.

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

HOD  ATR Range Projection: 2909.00; LOD ATR Range Projection: 2890.50; Cycle Day 1 Low: 2878.00; 3 Day Central Pivot: 2889.50; 3 Day Cycle Target: 2908.50; 10 Day Average True Range 18.25; VIX: 12.50

Nasdaq 100 (NQ)

Today is Cycle Day 3…Price has rallied in overnight trade and as of this briefing is a whisker within achieving 3 Day Cycle Target Objective 7660.00.

CD3 Range High = 7667.50         CD3 Range Low = 7605.25          CD3 Range Avg = 93.00

Scenario 1: IF Bulls hold bid above 7620, THEN initial upside potential targets 7660.00 – 7667.50 3 Day Cycle Range High Zone.

Scenario 2: IF Bears hold offer below 7620, THEN initial downside targets 7602.25 – 7588.25 CD3 Range Low Zone.

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

HOD  ATR Range Projection: 7673.00; LOD ATR Range Projection: 7596.50; Cycle Day 1 Low: 7592.50; 3 Day Central Pivot: 7616.00; 3 Day Cycle Target: 7660.00; 10 Day Average True Range: 62.00; VIX: 12.50

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