Trade Strategy 6.8.17

Markets
 
Any of three big events today, each with significant risk, could rattle complacent markets, where bonds and stocks have been making the unusual move of going higher together. The U.K. is voting in parliamentary elections, while the ECB will hold a rates meeting ahead of the market open. In the U.S., former FBI Director James Comey will testify in one of the most-anticipated congressional hearings in years
 
In Asia, Japan -0.4%. Hong Kong +0.3%. China +0.3%. India -0.2%.
In Europe, at midday, London flat. Paris +0.4%. Frankfurt +0.5%.
Futures at 6:20, Dow -0.1%. S&P flat. Nasdaq +0.3%. Crude +0.8% to $46.07. Gold -0.5% to $1287.40.
Ten-year Treasury Yield +2 bps to 2.2%
 
(Source: Seeking Alpha)

Economic Calendar 

8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:00 Quarterly Services Report
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

PTG Trading

Weekly Review and Preview can be viewed @ PTG Preview 6.5 – 6.9

S&P e-mini traded within its 10 day average true range parameters as price tested the low end of range. This sets up another potential “spring” which could push prices to test current highs. Violation and conversion of 2424 handle would negate bullish lean.

Today is Cycle Day 1 (CD1)…Normal decline if it unfolds measures 2422 – 2420 zone, followed by 2418 – 2416 zone.

Range Projections and Key Levels

HOD  ATR Range Projection: 2440.50; LOD ATR Range Projection: 2426.75; Cycle Day 1 Low: 2433.00; 3 Day Central Pivot: 2432.25; 3 Day Cycle Target: 2448.50; 10 Day Average True Range: 9.85

**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: 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 2436 to upper support, THEN upside is open to 2444 handle.

Scenario 2:  IF price violates and converts 2426 to lower resistance, THEN downside is open to 2417 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