Trade Strategy 6.14.19

Markets

In Asia, Japan +0.4%. Hong Kong -0.7%. China -1%. India -0.7%. 
In Europe, at midday, London -0.6%. Paris -0.4%. Frankfurt -0.8%. 
Futures at 6:20, Dow -0.3%. S&P -0.3%. Nasdaq -0.8%. Crude -0.8% to $51.84. Gold +1.1% to $1358.10. Bitcoin +2.4% to $8294. 
Ten-year Treasury Yield -3 bps to 2.06%

Source: Seeking Alpha

Economic Calendar

http://mam.econoday.com/

8:30Retail Sales
9:15Industrial Production
10:00Business Inventories
10:00Consumer Sentiment
1:00 PMBaker-Hughes Rig Count

***PTG Trading Room Chat Log’s Link

S&P 500

Today is Cycle Day 2 (CD2)…Following a very “scrappy” or “crappy” prior trade session, depending on your viewpoint, Contract Rollover is in full effect into Sept (U) and out of June (M).

Price has been locked within a 20 handle range between 2880 – 2900 as Bull/Bear “tug-o-war” continues until this range is broken.

Middle East tensions are rising with recent provocative attacks on oil tankers in the Strait of Hormuz, so remain alert with positions and always have Stops firmly in place.

CD2 Range High = 2910.00       CD2 Range Low = 2878.00    CD2 Range Avg = 31.00

Scenario 1: IF Bulls hold bid above 2890, THEN initial upside potential targets 2898 – 2900 zone.

Scenario 2: IF Bears hold offer below 2890, THEN initial downside objective targets 2880 – 2878 zone.

Range Projections and Key Levels (ES) September 2019 (U) Contract

HOD  ATR Range Projection: 2915.00; LOD ATR Range Projection: 2874.00; 3 Day Central Pivot: 2891.00; 3 Day Cycle Target: 2900.00; 10 Day Average True Range 29.00: VIX: 16.31

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Price is trading lower pre-RTH fulfilling 7489.75 CD2 Range Low Objective.

CD2 Range High = 7535.00          CD2 Range Low = 7489.75          CD2 Range Avg = 110.50

Scenario 1: IF Bulls hold bid above 7515, THEN initial upside potential targets 7535 – 7540 zone.

Scenario 2: IF Bears hold offer below 7515, THEN initial downside objective targets 7490 – 7480 zone.

Range Projections and Key Levels (NQ) September 2019 (U) Contract

HOD  ATR Range Projection: 7588.00; LOD ATR Range Projection: 7437.00; 3 Day Central Pivot: 7530.00; 3 Day Cycle Target: 7515.00; 10 Day Average True Range: 110.00; VIX: 16.31

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