Trade Strategy 6.15.17

Markets
 
In Asia, Japan -0.3%. Hong Kong -1.2%. China +0.1%. India -0.3%.
In Europe, at midday, London -0.8%. Paris -1.1%. Frankfurt -0.9%.
Futures at 6:20, Dow -0.4%. S&P -0.7%. Nasdaq -1.2%. Crude flat at $44.73. Gold -1.2% to $1260.90.
Ten-year Treasury Yield flat at 2.14%
 
(Source: Seeking Alpha)

Economic Calendar 

8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
8:30 Empire State Mfg Survey
8:30 Import/Export Prices
9:15 Industrial Production
9:45 Bloomberg Consumer Comfort Index
10:00 NAHB Housing Market Index
10:30 EIA Natural Gas Inventory
4:00 PM Treasury International Capital
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

PTG Trading

Weekly Review and Preview can be viewed @ PTG Preview 6.12 – 6.16

It’s looking more like “sell the news” following the expected Fed’s decision to hike rates, as traders are leaning more aggressively to selling bounces. Nasdaq (NQ) completed its retracement from last week’s sell-down and is now in the process of testing the low.

Today is Cycle Day 3 (CD3)…Cycle targets have been achieved, so the next decline appears to have begun as ES has a double-top formation with confirmation below 2414. Key Support Zone is currently marked between 2416 – 2418 handles.

Range Projections and Key Levels

HOD  ATR Range Projection: 2430.32; LOD ATR Range Projection: 2420.68; Cycle Day 1 Low: 2425.25; 3 Day Central Pivot: 2431.00; 3 Day Cycle Target: 2442.50; 10 Day Average True Range: 13.82

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

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Today’s Hypotheses: September 2017 (U) 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 need to hold price above 2416 handle and convert 2420 to new support. IF this occurs, THEN next objective is to push above 2425 handle.

Scenario 2: Bears have an opening to force selling below 2414 – 16 zone. IF successful, THEN downside measuring 2406 – 2400, with deep extreme marked at 2396 handle.

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