(Source: Seeking Alpha)

Economic Calendar 

8:30 Chicago Fed National Activity Index
10:30 Dallas Fed Manufacturing Survey
11:30 Fed’s Kashkari speech

PTG Trading

Markets are higher in over night trade with positive reaction to French elections over the weekend. Stage is set for a large gap open as price is currently trading near high end of down channel and 2372 (YELL).

Today is Cycle Day 1 (CD1)…Normal is for some magnitude decline, though it appears that this will be an aberrant day given the large expected gap higher. Test of the 4.4.17 high now comes into play. 3-Day Rally Target measures 2383.81.

Range Projections and Key Levels

HOD  ATR Range Projection: 2382.27; LOD ATR Range Projection: 2359.73; Cycle Day 1 Low: 2331.25; 3 Day Central Pivot: 2344.25; 3 Day Cycle Target: 2383.81; 10 Day Average True Range: 17.02

**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.

Today’s Hypotheses: June 2017 (M) Contract

*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.

Scenario 1:  Price will need to hold gap open to get a continuation move which upside initially targets 2375, followed by 2381 – 73 zone.

Scenario 2:  Bears need a normal decline during session with a violation and conversion below 2365 handle. IF successful, THEN 2359 – 2356 zone is objective.

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.

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