In Europe, at midday, London +0.2%. Paris -0.7%. Frankfurt -0.4%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq -0.3%. Crude +0.8% to $45.10. Gold -0.3% to $1245.70.
Ten-year Treasury Yield +3 bps to 2.25%
8:30 Initial Jobless Claims
8:30 GDP Q1
8:30 Corporate profits
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
1:00 PM Fed’s Bullard: U.S. Monetary and Economic Policy
3:00 PM Farm Prices
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Weekly Review and Preview can be viewed @ PTG Preview 6.26 – 6.30
Frustrated Bears could not get a follow-through session as Bulls came roaring back to drive prices higher, leaving shorts to scramble cover all day.
Today is Cycle Day 1 (CD1)…Normal is for some magnitude decline with the average measuring 2430 on a pullback from current levels. Quarter ending may see some window-dressing ahead of the long July 4th holiday.
Range Projections and Key Levels
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
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 will need to hold any selling above 2438 and continue to force short-covering above 2445, which targets 2450 handle.
Scenario 2: Bears need help to convert 2438 back to resistance…IF successful, THEN lower target measures 2433 – 2430 3D CPZ and range low.
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!
“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