(Source: Seeking Alpha)

Economic Calendar 

7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 Gallup U.S. Job Creation Index
9:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:30 EIA Petroleum Inventories
2:00 PM FOMC minutes

PTG Trading

S&P e-mini (ES) held within our projected range (2345 – 2356) notching Positive 3 Day Rally, albeit not without a struggle. Bulls will need to convincingly convert 2358 to new upper support, otherwise their efforts may be thwarted.

Today is Cycle Day 1 (CD1)…Normal is for some magnitude decline with average measuring 2347.50. Violation of prior low (2344.75) turns bias back to bearish.

Range Projections and Key Levels

HOD  ATR Range Projection: 2369.50; LOD ATR Range Projection: 2342.75; Cycle Day 1 Low: 2356.75; 3 Day Central Pivot: 2355.50; 3 Day Cycle Target: 2371.25; 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:  IF price clears and converts 2358 to upper support, THEN upside expansion targets 2368 handle.

Scenario 2:  IF price violates and converts 2345 to lower resistance, THEN downside expansion targets 2336 – 35 zone.

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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