(Source: Seeking Alpha)

Economic Calendar 

8:30 Durable Goods
8:30 Corporate Profits
8:30 GDP Q1
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
8:15 PM Fed’s William’s speech on Sunday

PTG Trading

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

S&P 500 e-mini (ES) continued to rally reaching 2416.50 Point n Figure Target. Price has pulled back modestly off highs in overnight trade to test 2408 minor support.

Today is Cycle Day 1 (CD1)…Normal is for price to decline with average measuring 2402.50. Volumes and trade are expected to be light into the afternoon ahead of the long Memorial Day Weekend.

Range Projections and Key Levels

HOD  ATR Range Projection: 2425.15; LOD ATR Range Projection: 2398.85; Cycle Day 1 Low: 2344.50; 3 Day Central Pivot: 2402.25; 3 Day Cycle Target: 2424.75; 10 Day Average True Range: 16.90

**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:  Bulls will need to get price back above 2412 handle to continue the rally and retest of 2417.75 prior high.

Scenario 2:  Bears need a CD1 normal day with a decline to 2402 to recover some of prior day’s squeeze losses.

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.”

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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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