(Source: Seeking Alpha)

Economic Calendar 

8:30 Chicago Fed National Activity Index
10:00 Fed’s Kashkari speech
7:00 PM Fed’s Reserve Gov. Lael Brainard speech

PTG Trading

Weekly Review and Preview can be viewed @ PTG Preview 5.22 – 5.26

Markets continued their rally in prior session to reach cycle objectives. Overnight trade is relatively quiet within a narrow range.

Today is Cycle Day 3 (CD3)…Having reached cycle targets residual momentum could continue with solid bid, though a conversion below 2378 – 76 zone would suggest a pullback (decline) re-emerging.

Range Projections and Key Levels

HOD  ATR Range Projection: 2395.00; LOD ATR Range Projection: 2368.50; Cycle Day 1 Low: 2344.50; 3 Day Central Pivot: 2369.00; 3 Day Cycle Target: 2371.00; 10 Day Average True Range: 16.73

**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 PH (2388.00), THEN additional upside measures 2392 – 95 zone.

Scenario 2:  IF price violates and converts 2378 – 76 to lower resistance, THEN downside measures 2372 – 2368 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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